It is the most important means of communication by the Board of Directors of a company with its shareholders. It is a comprehensive document which serves to inform the shareholders about the performance and various other aspects of the company, its major policies, relevant changes in management, future programs of expansion, modernization and diversification, capitalization and reserves etc.
It is mandatory for the Board of Directors of every company to present financial statement to the shareholders along with its report, known as the 'Board's Report' at every AGM.
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