# Section 129A - Periodical Financial Results

## Applicability

The Central Government may require a prescribed class of unlisted companies to:

1. Prepare Financial Results of the company on a periodical basis (in such form as may be prescribed)

2. Obtain approval of the Board of Directors

3. Complete audit or limited review of such periodical results in the prescribed manner

4. File copy with the Registrar within 30 days from the end of the relevant period

## Purpose

This provision was introduced to ensure greater transparency and monitoring of significant unlisted companies, similar to the quarterly results requirement for listed companies under SEBI LODR Regulations.

## Relevant Period

'Relevant period' means the period as may be prescribed by the Central Government.

## Key Distinguishing Features

Aspect	Listed Co. (SEBI LODR)	Unlisted Co. (Sec 129A)
Frequency	Quarterly	As prescribed by CG (periodical)
Filing	Stock Exchange	ROC
Audit/Review	Limited review	Audit or limited review
Approval	Board / Audit Committee	Board of Directors

Worked example

### Example 1

Example: A prescribed class unlisted company has half-year ending 30th September. By what date must it file its periodical financial results with the ROC?

Answer: Within 30 days from end of the relevant period, i.e., by 30th October. The results must first be approved by the Board and subjected to audit/limited review in the prescribed manner.

⚠️ Common exam mistakes

Thinking Section 129A applies to listed companies - it specifically applies to a prescribed class of unlisted companies.
Confusing the filing period - it is 30 days from end of the relevant period, not from the date of Board approval.
Missing that audit OR limited review is acceptable, not necessarily a full audit.

Bare-Act text Section 129A · Companies Act, 2013 · click to expand

Section 129A - The Central Government may, require such class or classes of unlisted companies, as may be prescribed,— (a) to prepare the financial results of the company on such periodical basis and in such form as may be prescribed; (b) to obtain approval of the Board of Directors and complete audit or limited review of such periodical financial results in such manner as may be prescribed; and (c) file a copy with the Registrar within a period of thirty days of completion of the relevant period with such fees as may be prescribed.

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Section 129A - Periodical Financial Results for Unlisted Companies

Worked example

⚠️ Common exam mistakes