approval of annual accounts of unlisted company through circular resolution

[Sandeep Kumar]

dear members,

please suggest whether the Board of Directors of unlisted Company can approve the annual accounts balance sheet, profit and loss account through circular resolution.

Regards,

--

Sandeep Kr. Mishra
Company Secretary

Nature is dynamic, Change is the Law of Nature....

[PRAFULLA DEVALIYA]

The accounts are to be approved by the Board. So the Board Meeting for approval of accounts is necessary. Circular resln. not sufficient. You can also conduct the board meeting on paper, without having a Board meeting conducted. But ensure that all the Directors are in India on that date and take them into confidence.

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[Sandeep Kumar]

i understand sir but whether announal accounts cannot be approved by the Board from circular resolution, pls suggest.

[K Degaleeswaran]

Dear Sir,

In my understanding, other than those items covered under Secs.77A, 262, 292, 293-A, 297, 299, 308, 361, 386, 372A & 488, can be passed through circulation, hence in my view annual accounts can be approved through circular resolution.

seeking some more views...

Regards

K Degaleeswaran

[ramela rangasamy]

Dear Friend,

No restriction in Companies

Act, for Approval of accounts is possible by circulation.

But it is advisable to have it approved by duly convened Board Meeting. SS for Board Meeting also suggest the same.

 

Yours truly,
R.Ramela
Company Secretary in Practice
A-6, Aaryaa Harmony Apartment, A.S.Colony,
Police Kandasamy Street, Olympus,
Ramanathapuram,
Coimbatore 641 045.
Cell No.9442617180
Phone No.0422 – 2317180
e-mail: ram...@rrcompanysecretaries.com

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From: K Degaleeswaran <degale...@googlemail.com>
To: csmy...@googlegroups.com
Sent: Wednesday, 1 August 2012 5:05 PM
Subject: Re: [CSMysore] approval of annual accounts of unlisted company through circular resolution

[kameswara Rao Kappagantula]

So loang as the SS is not mandatory and the Act is silent in case of Unlisted Co the accounts can be approved by Circular Resolution.

 

As we r noting the same in Nest Board Meeting.

 

U can go ahead with the same.

 

Kamesh