Section 130. Re-opening of accounts on court’s or Tribunal’s orders | Companies Act Integrated Ready Reckoner|Companies Act 2013|CAIRR
   valid as on 09/01/2025

Section 130. Re-opening of accounts on court’s or Tribunal’s orders
Notified on 01-06-2016 and font in blue from 09-02-2018

(1) A company  shall not re-open its books of account  and not recast its financial statement , unless an application in this regard is made by the Central Government, the Income-tax authorities, the Securities and Exchange Board , any other statutory regulatory body or authority or any person concerned and an order is made by a court of competent jurisdiction or the Tribunal to the effect that—

(i) the relevant earlier accounts were prepared in a fraudulent manner; or

(ii) the affairs of the company were mismanaged during the relevant period, casting a doubt on the reliability of financial statements:

Provided that the court or the Tribunal, as the case may be, shall give notice to the Central Government, the Income-tax authorities, the Securities and Exchange Board or any other statutory regulatory body or authority concerned  or any other person concerned and shall take into consideration the representations, if any, made by that Government or the authorities, Securities and Exchange Board or the body or authority concerned  or the other person concerned before passing any order under this section.

(2) Without prejudice to the provisions contained in this Act the accounts so revised or re-cast under sub-section (1) shall be final.

(3) No order shall be made under sub-section (1) in respect of re-opening of books of account relating to a period earlier than eight financial years immediately preceding the current financial year :

Provided that where a direction has been issued by the Central Government under the proviso to sub-section (5) of section 128 for keeping of books of account for a period longer than eight years, the books of account may be ordered to be re-opened within such longer period.

Commencement Notification dated 09.02.2018


Enforcement Notification S.O. 1934(E) dated 01/06/2016


The Companies (Amendment) Act, 2017 (Effective from 03.01.2018)


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