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The report of the Board of Directors must be attached to every balance sheet prsented at the annual general meeting. The report must contain information regarding the following matters :-

The state of affairs of the company

The amount, if any, which it proposes to carry to any reserves in such balance sheet

The amount of dividend recommended

Details of any material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the balance sheet relates and the date of the report

Conservation of energy, technology absorption, foreign exchange earnings and outgo.

Names, designations and other particulars of all employees drawing more than Rs. 50000/- p.m. in the company

Details necessary for a proper understanding of the state of the company’s affairs and which are not, in the Board’s opinion, harmful to the business of the company or of any of its subsidiaries, in respect of changes which have occured during the financial year :-

in the nature of company’s business;

in the company’s subsidiaries or in the nature of the business carried on by them; and

generally in the classes of business in which the company has an interest

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