Overview
This article provides a comprehensive, plain-language explanation of Board Resolution for Approval of Quarterly Financial Results under the Companies Act, 2013 and the Rules made thereunder. This article incorporates all amendments, circulars, and notifications up to March 2026.
Relevant provisions: Section 134 + SEBI LODR, read with applicable Rules and official guidelines.
What the Law Requires
Key Legal Framework
Section 134 + SEBI LODR of the Companies Act, 2013 establishes the framework for quarterly results. The provisions cover scope, applicability, conditions, timelines, documentation, and penalties for non-compliance. The corresponding Rules provide detailed procedural requirements.
Applicability
These provisions apply to all persons and entities covered under the Companies Act, 2013. Specific applicability depends on the nature of the transaction, entity type, and jurisdiction. State-specific variations may apply.
Detailed Explanation with Examples
Example 1: A business owner in Faridabad needs to comply with quarterly results provisions. This involves identifying the requirement, preparing documentation, obtaining necessary approvals, and filing within prescribed timelines. Missing any step can result in penalties or invalidation of the transaction.
Example 2: Consider a startup that needs to navigate quarterly results requirements. With DPIIT recognition, they may qualify for fee concessions and expedited processing. However, the substantive compliance requirements remain the same.
Example 3 (Practical Scenario): A professional advising clients on quarterly results must ensure they verify the latest amendments, check state-specific variations where applicable, and maintain proper documentation trails. our experts handle this end-to-end --