Multiple choice

_______ copies of balance sheet and profit and loss account, prepared by banks, are to be submitted to RBI within ______ months. Banking companies are also to submit three copies to

  1. 2 copies, 2 months, SEBI

  2. 3 copies, 3 months, SEBI

  3. 2 copies, 3 months, Registrar of Companies

  4. 3 copies, 4 months, Registrar of Companies

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Two copies of balance sheet and profit and loss account, prepared by banks, are to be submitted to RBI within three months. Banking companies are also to submit three copies to Company Law Board. Every miscellaneous non-banking company shall deliver to the Reserve Bank, unless it has done so already, an audited balance sheet as on the last date of each financial year and 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 of the Board of Directors laid before the company in such meeting in terms of Section 217(1) of the Companies Act, 1956 (1 of 1956) within fifteen days of such meeting.