ANNUAL MEETINGS AND

ANNUAL REPORTS AND

ACCOUNTS BY COMPANIES

by :
DR. T.K. JAIN
AFTERSCHO☺OL
centre for social entrepreneurship
sivakamu veterinary hospital road
bikaner 334001 rajasthan, india
FOR – PGPSE PARTICIPANTS
mobile : 91+9414430763

5 DECEMBER 09 www.afterschool.tk 1
 Where to keep final accounts?

Sec. 209 : every company must keep accounts

at its registered office only.

5 DECEMBER 09 www.afterschool.tk 2
 Can it keep accounts in other
places ?

Yes – the board of directors have to take a

decision and communicate it in 7 days to ROC
(registrar of companies) in form23 AA.
It can keep its accounts of branch offices at
branch office – but a summarised report should
be sent to the registered office at intervals of 3
months.
5 DECEMBER 09 www.afterschool.tk 3
 System of accounting

Double entry system of accounting

+ accrual system.

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Can a director inspect any book of
accounts?

Yes - during business hours ( sec. 209 (4) )

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 How long to keep the books of
accounts?

For 8 years.

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 Can an agent inspect books of
accounts?

Yes – if that is agent of DIRECTOR

+ he can inspect for the requirements of
director only
+ he must be approved by company.

5 DECEMBER 09 www.afterschool.tk 7
 Adoption of books of accounts

Within 6 months of date of closure of financial

year,it must be adopted by AGM as per sec.
210
financial year can be extended upto 15 months
and with permission of ROC, upto 18 months.

5 DECEMBER 09 www.afterschool.tk 8
 National advisory commitee on
accounting standards

As per sec. 210 A - a national committee is

appointed by govt. To advise the government
consisting of 12 representatives of ICAI and
other such bodies.

5 DECEMBER 09 www.afterschool.tk 9
 Holding company / subsidiary
company

Holding company accounts must have accounts

of subsdidiary company + auditor report
sec. 212

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 Signing of annual accounts
Annual accounts must be signed by 2
direcotrs / manager / secretary
if you have MD, he must sign it.

Sec. 216 : P & L as per format must be

attached with balance sheet.
Sec. 217 : board of director must add his report
on working of company with the annual
account.
5 DECEMBER 09 www.afterschool.tk 11
 THANKS....
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5 DECEMBER 09 www.afterschool.tk 12