The Government of India is holding 51% of the paid-up equity share capital of Sun Ltd. The
Question:
The Government of India is holding 51% of the paid-up equity share capital of Sun Ltd. The Audited financial statements of Sun Ltd. for the financial year 2017-18 were placed at its annual general meeting held on 31st August 2018. However, pending the comments of the Comptroller and Auditor General of India (CAG) on the said accounts, the meeting was adjourned without the adoption of the accounts. On receipt of CAG comments on the accounts, the adjourned annual general meeting was held on 15th October 2018 whereat the accounts were adopted. Thereafter, Sun Ltd. filed its financial statements relevant to the financial year 2017-18 with the Registrar of Companies on 12th November 2018. Examine, concerning the applicable provisions of the Companies Act, 2013, whether Sun Ltd. has complied with the statutory requirement regarding the filing of accounts with the Registrar.
The Legal Environment of Business A Critical Thinking Approach
ISBN: 978-0132664844
6th Edition
Authors: Nancy K Kubasek, Bartley A Brennan, M Neil Browne