Question: Which Item Cannot Be Passed By Way Of Circulation?

Can Balance Sheet be revised?

Under this section, the company can revise its financial statements by complying the requirements mentioned under section 130 and 131.

If the company does not follow the provisions mention under section 130 and 131 then revision is not possible and it will be considered as invalid..

Which approval is required for voluntary revision of financial statements or board’s report?

Voluntary revision of financial statements or Board’s report (1) If it appears to the directors of a company that— (a) the financial statement of the company; or (b) the report of the Board, do not comply with the provisions of section 129 or section 134 they may prepare revised financial statement or a revised report …

Can Cost Auditor be appointed by circular resolution?

The following are the list of matters which are to be passed only at a duly convened Board meeting and not by circulation: Noting minutes of Meetings of Audit Committee and other Committees. … Appointment of Secretarial Auditors, Cost Auditor, Statutory Auditor and Internal Auditors. Declaration of any Dividend.

What is passing a resolution?

In law, resolution is a written motion adopted by a deliberative body. The substance of the resolution can be anything that can normally be proposed as a motion. … Resolutions are commonly used in corporations and houses of legislature.

Can a director be appointed through circular resolution?

The Board can appoint such Director by passing a resolution in its meeting or by passing a circular resolution. … (x) The proposed appointee shall give his consent [as prescribed under Section 152(5) of the Act] to hold the office as a director of the company.

Who appoints cost auditor?

The cost auditor is to be appointed by the Board of Directors on the recommendation of the Audit Committee, where the company is required to have an Audit Committee.

Which item can be passed by way of circulation?

Granting loans or giving guarantee or providing security in respect of loans. Making political contributions. Making calls on shareholders in respect of money unpaid on their shares. Approving Remuneration of Managing Director, Whole-time Director and Manager.

Which resolution can be passed by circulation?

Introduction: Resolution-by-circulation means the resolution which is passed by the circulation among the directors or members of the Board.

What skills does a company secretary need?

Key skills for company secretariesStrong administrative skills and an aptitude for using IT software.Commercial awareness.Meticulous attention to detail.Interpersonal skills.Influencing skills.Excellent organisation and time management.The ability to take the initiative.A flexible and practical approach to work.More items…

What is resolution under Companies Act 2013?

As per Section 114 of Companies Act 2013, a resolution shall be a Special Resolution when— (a) the intention to propose the resolution as a special resolution has been duly specified in the notice calling the general meeting or other intimation given to the members of the resolution; (b) the notice required under this …

What is salary of CS?

Pay Scale/Salary of Company Secretary (CS)Job ProfileStarting Salary per annum (in INR)Senior Level Salary per annum (In INR)Company SecretaryRs. 3,00,000Rs. 9,00,000 – 12,00,000Legal AdvisorRs. 3,00,000Rs. 10,00,000Principal SecretaryRs. 3,00,000Rs. 9,00,000 – 12,00,000

Can a company secretary sign the board resolution?

There is no need to personally present of Company secretary. You can sign this resolution by any director of the company. A Company Secretary acts as a mediator between the company, its board of directors, stakeholders, government and regulatory authorities.

Does a board resolution need to be signed by all directors?

Like every legal document, resolutions need to be signed and dated by the members of the board as they would do with minutes of meetings.

Can shares be allotted by circular resolution?

Tech Mahindra Ltd has informed BSE that the resolution passed by the Securities Allotment Committee of the Board of Directors of the Company on October 26, 2016 for issue and allotment of a total of 74786 equity shares of Rs.

Who appoints secretary?

A company Secretary is appointed by the resolution of the board. A company secretary is entitled to become the director of the company with the prior permission of the board. A company secretary is not allowed to hold office in more than one company.

Can financial statements be revised?

The 2013 Act clarifies that the revised financial statements cannot be prepared or filed more than once in any financial year.

What is the duties of company secretary?

The secretary is generally responsible for circulating agendas and other documentation to directors, shareholders and auditors within the required time limits, as well as producing accurate minutes of shareholder and directors’ meetings and resolutions.

Which resolution is required for voluntary revision of financial statements?

The central government, Income tax authority, SEBI, and such authorities can apply for revising the statements. The Company through its representative such as practicing professionals can apply to the Tribunal for the revision of its statement.