Phosphate Ltd. has suffered a major loss of ₹100 crore in May, 2018 on the dealing of commodity exchange. The annual accounts and Board's report for the year 2017-18 are under finalization. The Chief Financial Officer (C

According to section 134(3)(k) all material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report should form part of the Board's Report. The Directors' Report shall, therefore, contain material changes pertaining to post-financial statement events impacting the operations and performance of the Company. Thus, in present case view of Chief Financial Officer is incorrect. Loss of ₹100 Crore incurred during May, 2018, i.e. post financial year, shall be included in the Board's Report for the year 2017-18.