FILING OF MGT 14 FOR RESOLUTION REGARDING APPROVING OF FINANCIAL STATEMENTS & BOARD REPORT IN BOARD MEETING

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Hope so, every company would have finalised their accounts and also would have filed the Annual returns to ROC in time.But please ensure whether you have filed Form MGT-14. The resolution with respect to approval of financial statements by the Board for the FY 2013-14 is to be filed with the Registrar of Companies. 

 As per the provisions of Companies Act’2013, the financial statements of a company alongwith the Directors’ report are to be approved by the Board of Directors of the company at a meeting of the Board of Directors.

 From the simultaneous reading of the above Sections 117 and Section 179 (3) of the Companies Act’2013, it is clear that unlike the previous years, the resolution with respect to approval of financial statements and the Board’s report for the FY 2013-14 onwards has to be separately filed with the Registrar of Companies.

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