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This Standard seeks to lay down practices pertaining to the preparation and presentation of the Board’s Report.
The following terms are used in this standard with the meaning specified:
Every Non-Banking Financial Company, Miscellaneous Non-Banking Company and Residuary Company shall deliver to the Reserve Bank, an audited balance sheet as on the last date of each financial year, an audited profit and loss account in respect of that year as passed by the company in general meeting together with a copy of the Report laid before the company in such meeting within fifteen days of such meeting.