Please Help: Meeting

Posted Date : 29-Aug-2011 , 09:58:42 pm | Posted By Hardik Thakkar

The statutory auditors of the company stated in their report that the accountants of the company did not give a true and fair view of the states of the company. can the shareholder at the AGM adopt the accounts on the basis of clarification given by BOD??????

Category : Corporate Law | Answers : 0 | Comments : 3 | Hits : 411

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Ashish Karundia

29-Aug-2011 , 10:49:48 pm

Dear Hardik, The Statutory Auditors of the company have given a qualified report(i.e. the accounts do not give a true and fair view). The shareholder can adopt the same even if the same is not clarified by the BOD. I hope this answers your query. In case of any further clarifications, feel free to revert.

CS Moiz Patharia

20-Sep-2011 , 04:51:37 pm

shareholder may question the difference in opinion between auditors and board. Much preference will be given to the report of auditors and the shareholders may or may not ratify the same.