• Welcome to Tamil Brahmins forums.

    You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our Free Brahmin Community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

    If you have any problems with the registration process or your account login, please contact contact us.

Financial Info of Private company

Status
Not open for further replies.

fire

Active member
Hi,
Many startups ,which are held by private ownership are giving stock options to employees.When employee quits the organization,they need to take a decision of purchasing the stock or leaving it.Since the company is unlisted the financial condition of the company is unknown to the employee.In this situation , does he deserve the right to demand financial information? Or the company deserves the right to hold back the information till the time it goes public ?(Hence stock options in such companies could be a trap rather than a benefit for employees)

Thanks,
Fire.
 

RVR

Well-known member
All the companies have to conduct an annual general body meeting (AGM) every year to adopt the accounts for previous year. Companies are suppose to give 21 days notice for the AGM to all the shareholders and they are suppose to send annual reports containing Profit and Loss account, Balance Sheet and other statutory information of the meeting.

As a shareholder, if you are not receiving the same, it is violation of law.

Anybody can view the financial statements and annual returns of the company at concerned Registrar of company office by paying the necessary fees. You don't have to be a share holder of the company for this purpose.

All the best
 
Status
Not open for further replies.
Top