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TMI BlogFinancial statement, Board’s report, etcX X X X Extracts X X X X X X X X Extracts X X X X ..... report shall be attached to every financial statement. (3) There shall be attached to statements laid before a company in general meeting, a report by its Board of Directors, which shall include (a) the extract of the annual return as provided under sub-section (3) of section 92; (b) number of meetings of the Board; (c) Directors Responsibility Statement; (d) a statement on declaration given by independent directors under sub-section (6) of section 149; (e) in case of a company covered under sub-section (1) of section 178, company s policy on directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting the manner in which formal annual evaluation has been made by the Board of its own performance and that of its committees and individual directors; (q) such other matters as may be prescribed. (4) The report of the Board of Directors to be attached to the financial statement under this section shall, in case of a One Person Company, mean a report containing explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made by the auditor in his report. (5) The Directors Responsibility Statement referred to in clause (c) of sub-section (3) shall state that (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g effectively. (6) The Board s report and any annexures thereto under sub-section (3) shall be signed by its Chairman if he is authorised by the Board and where he is not so authorised, shall be signed by at least two directors, one of whom shall be a managing director, or by the director where there is one director. (7) A signed copy of every financial statement, including consolidated financial statement, if any, shall be issued, circulated or published along with a copy each of (a) any notes or documents which are required to be attached to the financial statement in pursuance of section 129; (b) the auditor s report; and (c) the Board s report referred to in sub-section (3). (8) If a company contravenes the provisions of this section, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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