Abridged Annual Reports are of no use

Kashmir Times. Dated: 9/14/2018 12:10:17 PM

Dear Editor,
It is high time we do away with the provisions of the abridged annual report of the companies with a suitable amendment in the Companies Act. Public at large is investing in shares of companies, they need full disclosure of financial affairs and other relevant information, as it is submitted to the Registrar of Companies – only then will it be considered full transparency to its shareholders.
Till then Abridged Annual Report should be sent only to those shareholders who have given their consent in writing of its confirmation duly signed; and for others-who have not opted in writing FULL ANNUAL REPORT COPY should be sent through Post preferably by Speed Post or Courier.
—Mahesh Kapasi,
B-49 Gulmohar Park,
New Delhi.

 

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