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Board Resolution for Approval of Financial Statements
CERTIFIED TRUE COPY OF THE BOARD RESOLUTION
Passed at the Meeting of the Board of Directors of the Company
________________
CIN: ________________
Registered Office Address: ________________
Email: ________________
CERTIFIED TRUE COPY OF THE BOARD RESOLUTION
Passed at the Meeting of the Board of Directors of the Company held on
__________ at
__________ at the Registered Office of the Company at
________________
APPROVAL OF FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ________________
RESOLVED THAT pursuant to the provisions of Section 134 of the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014, and other applicable provisions, if any, (including any statutory modifications, amendments, or re-enactments thereto for the time being in force), the Financial Statements of the Company for the financial year ended __________, comprising the Balance Sheet as at __________, the Statement of Profit and Loss, the Cash Flow Statement, the Statement of Changes in Equity for the year ended on that date, and the Notes forming part thereof, together with the Board's Report and the draft Auditor's Report placed before the Board, be and are hereby considered, approved, and taken on record.
RESOLVED FURTHER THAT Mr./Ms. ________________, Director (DIN: ________________) and Mr./Ms. ________________, Director (DIN: ________________), be and are hereby authorised to sign the Financial Statements and the Board's Report on behalf of the Board of Directors, and to forward the same along with the Annual Report to the shareholders of the Company for the financial year ended __________.
RESOLVED FURTHER THAT any Director of the Company, either severally or jointly, be and is hereby authorised to sign the requisite e-forms including Form AOC-4 and Form MGT-7, and to file the same with the Registrar of Companies within the prescribed time, and to do all such acts, deeds, matters, and things as may be necessary, proper, or expedient to give effect to the above resolutions.
For ________________
Signature: _________________________
Name: ________________
Designation: ________________
DIN: ________________
Board Resolution for Approval of Financial Statements
Professional Format Guide for Indian Companies
Introduction
A Board Resolution for Approval of Financial Statements is a formal corporate document that records the decision of the Board of Directors to approve the company’s annual financial statements before they are presented to shareholders and filed with regulatory authorities. Under the Companies Act, 2013, directors are primarily responsible for ensuring that the financial statements present a true and fair view of the company’s financial position.
This resolution is required annually for every company registered under the Companies Act, 2013. The financial statements, including the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, Statement of Changes in Equity, and notes to accounts, along with the Board’s Report and Auditor’s Report, must be placed before the Board for approval. The approved statements are laid before shareholders at the AGM and filed with the Registrar of Companies through Form AOC-4.
Benefits of Using a Standard Format
Utilising a professionally drafted board resolution format ensures compliance with all statutory requirements under the Companies Act, 2013. A standardised template reduces procedural errors, maintains consistency in corporate documentation, and facilitates smooth processing of annual filings with the Registrar of Companies.
This approach supports timely compliance and helps companies meet statutory deadlines for filing financial statements and annual returns.
Relevance to Annual Compliance
Approval of financial statements is a mandatory annual compliance requirement for all companies. Companies must file their financial statements with the ROC within the prescribed timelines after completion of Company Registration.
The Board’s approval forms the basis for the AGM agenda and subsequent regulatory filings. The financial statements are also used for income tax filings, loan applications, GST annual returns, and stakeholder assessments. The resolution ensures proper authorisation and accountability for the disclosed financial information.
Board Resolution for Approval of Financial Statements – Sample Format
[To be printed on Company Letterhead]
Company Name: ___________________________
CIN: ___________________________
Registered Office Address: ___________________________
Email: ___________________________
CERTIFIED TRUE COPY OF THE BOARD RESOLUTION
Passed at the Meeting of the Board of Directors of the Company held on __________ (Date) at __________ (Time) at the Registered Office of the Company at __________ (Address)
APPROVAL OF FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR __________
RESOLVED THAT pursuant to the provisions of Section 134 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 and other applicable provisions, the Financial Statements of the Company for the financial year ended __________, comprising the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, Statement of Changes in Equity and Notes thereto, together with the Board’s Report and draft Auditor’s Report placed before the Board, be and are hereby approved and taken on record.
RESOLVED FURTHER THAT Mr./Ms. __________ (Name), Director (DIN: __________) and Mr./Ms. __________ (Name), Director (DIN: __________), be and are hereby authorised to sign the Financial Statements and the Board’s Report on behalf of the Board and forward the same to the shareholders for the relevant financial year.
RESOLVED FURTHER THAT any Director of the Company be and is hereby authorised to sign and file the requisite e-forms including Form AOC-4 and Form MGT-7 with the Registrar of Companies and to do all acts and deeds necessary to give effect to this resolution.
For __________ (Company Name)
Signature: ___________________________
Name: ___________________________
Designation: ___________________________
DIN: ___________________________
Frequently Asked Questions
1. What is the board resolution for approval of financial statements?
It is a formal resolution passed by the Board approving the company’s annual financial statements under Section 134 of the Companies Act, 2013 before they are presented to shareholders.
2. How is a board resolution for approval of financial statements drafted?
It includes company details, meeting particulars, approval of financial statements, authorisation to sign documents, and authority to file ROC forms.
3. Is signature of all directors mandatory?
No. The resolution is passed with requisite quorum and the certified copy is signed by the Chairperson or an authorised director.
4. Is professional certification required?
The resolution itself does not require certification, but Form AOC-4 may require certification by a practising professional in certain cases.
5. Who approves the financial statements?
The Board of Directors approves the financial statements at a duly convened board meeting before they are placed before shareholders at the AGM.
6. Is the board resolution format same as shareholder resolution?
No. The board resolution approves and recommends the financial statements, while the shareholders’ resolution adopts the audited financial statements at the AGM.
