In What Circumstances and by whom can books of account/ Financial Statement of a Company be Re-opened or Re-casted ? Answer : Books of account/Financial Statement of a Company be Re-opened or Re-casted on application made by Central Government, the Income-tax authorities, the Securities and Exchange Board, any other statutory regulatory body or authority or any person concerned and an order is made by a court of competent jurisdiction or the Tribunal , if there are CIRCUMSTANCES indicating : - (i) The relevant earlier accounts were prepared in a fraudulent manner; or (ii) The affairs of the company were mismanaged during the relevant period. [ Section 130 Companies Act 2013 ]
Posted on: Sat, 19 Jul 2014 12:24:58 +0000
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