TMI BlogChapter IX - Draft Rules under Companies Act, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... "electronic mode" includes an electronic record as defined in clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000) and books of accounts shall have the meaning given to it under the Act. 9.2 For the purposes of sub-section (3) of section 128 of the Act (1) Summarised returns of the books of accounts of the company maintained outside India shall be sent to the registered office at monthly or quarterly intervals as may be decided by the Board of directors, which shall be maintained and produced for inspection by directors. (2) Where any other financial information maintained outside the country is required by a director, the director shall furnish a written request to the company setting out the full details of the financial information sought, the period for which such information is sought and reasons as to why such financial information is required. (3)The Company shall produce such financial information to the director within fifteen days of the date of receipt of the written request. (4) The financial information required under sub-rule (2) and (3) above shall be sought for by the director himself and not by or through h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y be published in Newspaper in English and in vernacular language. In such General Meeting, the said revised financial statements, statement of directors and the statement of auditors may be put up for consideration before a decision is taken on adoption of the revised financial statements. (6) On approval of the General Meeting, the revised financial statements along with the statement of auditors or revised report of the Board, as the case may be shall be filed with the Registrar within 30 days of the date of approval by the general meeting in Form No.9.4. 9.6 (1) For the purposes of clause (a) of sub-section (3) of section 131 , the previous financial statement or report may be replaced by revised financial statement or revised report of the board, and supplemented by: (a) A summarised statement of revisions effected (b) The copy of the Order of the Tribunal. (c) The revised auditor s report on the revised financial statement, if applicable (2) It shall be ensured that the word revised is prefixed prominently on all the documents forming part of the revised financial statements / revised board report. (3) Further, the revision shall be effected in accordance wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty of the Board to send a copy of the revised financial statements and the revised auditor s report to the members, and in case of a listed company, to the stock exchange(s) and other regulatory authorities and it shall fix the date for convening general meeting for the approval of the revised financial statements and the revised auditor s report, or revised report of the Board, as the case may be. (4) The revised financial statements or revised report of the Board shall be signed in the manner specified in section 134 of the Act . Any such revised financial statement or revised report of the Board shall be accompanied by the reasons justifying the proposed revision. (5) The members shall approve the revised financial statements and the revised auditor s report at the general meeting. (6) Management has to necessarily revise the financial statements for all the relevant period, subsequent to the financial year for which the revision of financial statement is sought to be made by the Board of Directors. 9.9 For the purposes of section 133 , the standards of accounting as prescribed under the Companies Act, 1956 shall be deemed to be the accounting standards until account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and individual directors. (5) For the purpose of clause (q) of sub-section 3 of Section 134 , the Report of the Board shall also provide the following information: (i) financial summary/highlights; (ii) change in the nature of business, if any; (iii) Details of directors or key managerial personnel who were appointed or have resigned during the year; (iv) Names of companies which have become or ceased to be its Subsidiaries, joint ventures or associate companies during the year alongwith reasons therefor; (v) Details relating to Deposits covered under Chapter V of the Act : (a) Accepted during the year; (b) remained unpaid or unclaimed as at the end of the year; (c) whether there has been any default in repayment of deposits or payment of interest thereon during the year and if so, number of such cases and the total amount involved: i. at the beginning of the year ii. maximum during the year iii. at the end of the year (d) Details of deposits which are not in compliance with the requirements of Chapter V of the Act (vi) Details of significant and material orders passed by the Regulators or courts or tribunals impacting the going concern status ..... 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