Year for conducting meeting of AC

Questions › Category: CA-Final Corporate Governance › Year for conducting meeting of AC

Apurva Bote asked 4 years ago

For conducting 4 meetings of AC under LODR year to be taken as FY or CY like taken as per companies Act for certain conducting boardbmeeting plz clarify

Question Tags: Year to be considered as FY or Calender yr like companies act for Bod meeting

1 Answers

0 Vote Up Vote Down

Ravi Staff answered 4 years ago

we should interpret it, with reference to context
work of audit committee is mostly related to financial matters, and majorly reviewing financial statements, quarterly, yearly
so it should be financial year
in annual report they have given details of audit committee meetings, they have conducted 12 meetings they have counted it from Apr to March, rather than Jan to Dec
So best interpretation is it should be financial year, though it is not explicitly mentioned