# Section 136 – Right of Members to Copies of Audited Financial Statements
## 1. What Must Be Sent?
A copy of the following must be sent to every person entitled:
1. Financial Statements (including consolidated FS, if any).
2. Auditor's Report.
3. Every other document required by law to be annexed or attached to the financial statements.
## 2. Who Is Entitled to Receive?
- Every member of the company.
- Every trustee for debenture-holders.
- All other persons entitled (e.g., auditors).
## 3. Time of Dispatch
Documents must be sent at least 21 days before the date of the General Meeting.
### Shorter Notice Permitted
Documents may be sent at less than 21 days before the meeting if consented to by:
| Company With Share Capital | Company Without Share Capital |
|---|---|
| Majority in number entitled to vote AND who represent ≥ 95% of paid-up share capital | Members having ≥ 95% of total voting power |
## 4. Compliance for Listed Companies
In the case of listed companies, it is sufficient compliance if:
- The financial statements (including auditor's report and other documents) are made available for inspection at the registered office during working hours for at least 21 days before the meeting, AND
- A statement containing the salient features of the documents in the prescribed form (Form AOC-3 / AOC-3A where applicable to Ind-AS) is sent to every member and trustee/entitled person 21 days before the meeting.
## 5. Mode of Sending
| Type of Company | Mode |
|---|---|
| Listed Company | Electronic mode (e-mail) |
| Public Company having Net Worth > ₹1 crore AND Turnover > ₹10 crore | Electronic mode |
| Other Companies | Physical or electronic (as per member's request) |
## 6. Web Posting
A company having a website must place its financial statements (including consolidated FS, auditor's report and all annexed documents) on its website.
## 7. Listed Holding Company Disclosure
A listed holding company shall also place separate audited accounts of each subsidiary on its website and shall provide a copy to any shareholder who asks for it.
## 8. Penalty
| Person | Penalty |
|---|---|
| Company | ₹25,000 |
| Every Officer in Default | ₹5,000 |