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Companies Act, 1956 Section 211

Title: Form and Contents of Balance-sheet and Profit and Loss Account

State: Central

Year: 1956

.....account of a company shall not be treated as not disclosing a true and fair view of the state of affairs of the company, merely by reason of the fact that they do not disclose- (i) in the case of an insurance company, any matters which are not required to be disclosed by the Insurance Act, 1938 (4 of 1938); (ii) in the case of a banking company, any matters which are not required to be disclosed by the Banking Companies Act, 1949 (10 of 1949); (iii) in the case of a company engaged in the generation or supply of electricity, any matters which are not required to be disclosed by 5 [both the Indian Electricity Act, 1910 (9 of 1910). and the Electricity (Supply) Act, 1948 (34 of 1948)]; (iv) in the case of a company governed by any other special Act for the time being in force, any matters which are not required to be disclosed by that special Act; or (v) in the case of any company, any matters which are not required to be disclosed by virtue of the provisions contained in Schedule VI or by virtue of a notification issued under sub-section (3) or an order issued under sub­-section (4). (6) For the purposes of this section, except where the context otherwise.....

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Companies Act, 1956 Section 220

Title: Three Copies of Balance-sheet, Etc., to Be Filed with Registrar

State: Central

Year: 1956

.....is adjourned without adopting the balance-sheet]9[or, if the annual general meeting of a company for any year has not been held] a statement of that fact and of the reasons therefor shall be annexed to the balance-sheet and to the copies thereof required to be filed with the Registrar. (3) If default is made in complying with the requirements of sub-sections (1) and (2), the company, and every officer of the company who is in default, shall be liable to the like punishment as is provided by section 162 for a default in complying with the provisions of sections 159, 160 or 161. ____________________ 1 .Substituted by Act 31 of 1965, Section 62 and Schedule, for certain words (w.e.f. 15-10-1965). 2 .Inserted by Act 46 of 1977, Section 5 (w.e.f. 24-12-1977). 3 .The words "in the case of a public company" omitted by Act 65 of 1960, Section 66 (w.e.f. 28-12-1960). 4 .The words "managing agent, secretaries and treasurers," omitted by Act 53 of 2000, Section 104 (w.e.f. 13-12-2000). 5 .Inserted by Act 65 of 1960, Section 66 (w.e.f. 28-12-1960). 6 .Clause (b) omitted by Act 65 of 1960, Section 66 (w.e.f. 28-12-1960). 7 .The words "public or private" omitted by Act 65 of.....

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Companies Act, 1956 Section 212

Title: Balance-sheet of Holding Company to Include Certain Particulars as to Its Subsidiaries

State: Central

Year: 1956

.....profit or loss for any financial year of the subsidiary may, if it is not practicable to apportion it with reasonable accuracy by reference to the facts, be treated as accruing from day-to-day during that year and be apportioned accordingly. (5) Where the financial year or years of a subsidiary referred to in sub-section (2) do not coincide with the financial year of the holding company, a statement containing information on the following matters shall also be attached to the balance-sheet of the holding company:- (a) whether there has been any, and, if so, what change in the holding company's interest in the subsidiary between the end of the financial year or of the last of the financial years of the subsidiary and the end of the holding company's financial year; (b) details of any material changes which have occurred between the end of the financial year or of the last of the financial years of the subsidiary and the end of the holding company's financial year in respect of- (i) the subsidiary's fixed assets; (ii) its investments; (iii) the moneys lent by it; (iv) the moneys borrowed by it for any purpose other than that of meeting current liabilities. (6) If,.....

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Bombay Non-trading Corporations Act, 1959, (Maharashtra) Section 36

Title: there Copies of Balance Sheet, Etc. to E Filed with Registrar

State: Maharashtra

Year: 1959

(1) After the balance sheet and the income and expenditure account have been laid before a corporation at an annual general meeting as aforesaid, there shall be filed with the Registrar within forty days from the day on which each of the annual general meetings referred to in section 26 is held, three copies of the balance sheet certified to be true copies by the auditors of the corporation, and the auditors' report in so far as it relates to the balance sheet. (2) If the annual general meeting of a corporation before which a balance sheet is laid as aforsaid does not adopt the balance sheet, a statement of that fact and of the reasons therefore shall be annexed to the balance sheet and to the copies thereof required to be filed with the Registrar.

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Goa, Daman and Diu Reorganisation Act, 1987 Section 36

Title: Cash Balance

State: Central

Year: 1987

The total of the cash balances in all treasuries, the Reserve Bank of India, the State Bank of India and any nationalised bank, of the existing Union terriroty immediately before the appointed day shall be divided between the State of Goa and the Union according to the population ratio: Provided that for the purposes of such division, there shall be no transfer of cash balances from any treasury to any other treasury and the apportionment shall be effected by adjusting the balances in the books of the Reserve Bank of India. Explanation.-- In this section, "balance" includes a debit balance.

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COMPANIES ACT, 1956 Section 219

Title: Right of member to copies of balance-sheet and auditors' report

State: Central

Year: 1956

..... (c) if the copies of the documents aforesaid are sent less than twenty-one days before the date of the meetings, they shall, notwithstanding that fact, be deemed to have been duly sent if it is so agreed by all the members entitled to vote at the meeting. 5 [(2) Any member for holder of debentures of a company and any person from whom the company has accepted a sum of money by way of deposit shall, on demand, be entitled to be furnished free of cost, with a copy of the last balance-sheet of the company and of every document required by law to be annexed or attached thereto, including the profit and loss account and the auditors' report.] (3) If default is made in complying with sub-section (1), the company, and every officer of the company who is in default, shall be punishable with fine which may extend to 6 [five thousand rupees]. (4) If, when any person makes a demand for a copy of any document with which he is entitled to be furnished by virtue of sub-section (2), default is made in complying with the demand within seven days after the making thereof, the company, and every officer of the company who is in default, shall be punishable with fine which may extend to 6.....

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Companies Act, 1956 Section 215

Title: Authentication of Balance-sheet and Profit and Loss Account

State: Central

Year: 1956

.....of the Board of directors- (i) in the case of banking company, by the persons specified in clause (a) or clause (b), as the case may be, of sub-section (2) of section 29 of the Banking Companies Act, 1949 (10 of 1949); (ii) in the case of any other company, by its1[***]manager or secretary, if any, and by not less than two directors of the company one of whom shall be a managing director where there is one. (2) In the case of a company not being a banking company, when only one of its directors is for the time being in India, the balance-sheet and the profit and loss account shall be signed by such director; but in such a case there shall be attached to the balance-sheet and the profit and loss account a statement signed by him explaining the reason for non-compliance with the provisions of sub-section (1). (3) The balance-sheet and the profit and loss account shall be approved by the Board of directors before they are signed on behalf of the Board in accordance with the provisions of this section and before they are submitted to the auditors for their report thereon. ____________________ 1 . The words "managing agent, secretaries and treasurers," omitted by Act.....

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Payment of Bonus Act, 1965 Section 23

Title: Presumption About Accuracy of Balance-sheet and Profit and Loss Account of Corporations and Companies

State: Central

Year: 1965

.....being a party to the dispute, requiring any clarification relating to any item in the balance-sheet or the profit and loss account, it may, after satisfying itself that such clarification is necessary, by order, direct the corporation or, as the case may be, the company, to furnish to the trade union or the employees such clarification within such time as may be specified in the direction and the corporation or, as the case may be, the company, shall comply with such direction. __________________________ 1. Substituted by Act 23 of 1976, section 16, for "and in sections 24 and 25" (w.r.e.f. 25-9-1975). 2. Substituted by Act 66 of 1980 Section 13, for "section 25" (w.r.e.f. 21-8-1980).

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Insurance Act, 1938 (4 of 1938) Section 11

Title: Accounts and Balance-sheet

State: Central

Year: 1938

.....or marine insurance] and no other business; (c) 4 [in respect of each class or sub-class of insurance business for which he is required under sub-section (1) of section 10 to keep a separate account of receipts and] 5 [payments, a revenue account in accordance with the regulations, and in the form or forms, set forth in the Third Schedule applicable to 6 [that class or sub-class of insurance business]]. 7 [(1A) Notwithstanding anything contained in sub-section (1), every insurer, on or after the commencement of the Insurance Regulatory and Development Authority Act, 1999, in respect of insurance business transacted by him and in respect of his shareholders' funds, shall, at the expiration of each financial year, prepare with reference to that year, a balance-sheet, a profit and loss account, a separate account of receipts and payments, a revenue account in accordance with the regulations made by the Authority. (1B) Every insurer shall keep separate accounts relating to funds of shareholders and policy-holders.] (2) Unless the insurer is a company 8 [as defined in clause (2) of sub-section (1) of section 2 of the Indian Companies Act, 1913 (7 of 1913)9 ] accounts and.....

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Madhya Pradesh Reorganisation Act,2000 Section 39

Title: Treasury and Bank Balances

State: Central

Year: 2000

The total of the cash balances in all treasuries of the State of Madhya Pradesh and the credit balances of the State with Reserve Bank of India, the State Bank of India or any other bank immediately before the appointed day shall be divided between the States of Madhya Pradesh and Chhattisgarh according to the population ratio: Provided that for the purposes of such division, there shall be no transfer of cash balances from any treasury to any other treasury and the apportionment shall be effected by adjusting the credit balances of the two States in the books of the Reserve Bank of India on the appointed day: Provided further that if the State of Chhattisgarh has no account on the appointed day with the Reserve Bank of India, the adjustment shall be made in such manner as the Central Government may, by order, direct.

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