The time gap between the date of approval of financial statements by the Board of directors of a company and the date of notice of annual general meeting should be 45 days.

The statement that the time gap between the date of approval of financial statements by the Board of Directors and the date of notice of the Annual General Meeting (AGM) should be 45 days is incorrect . Provisions of the Companies Act, 2013: No Specific Time Prescribed: The Companies Act, 2013, does not prescribe any specific time gap of 45 days between the date of approval of financial statements by the Board of Directors and the date of notice of the Annual General Meeting. Notice Period for AGM: Section 101 of the Companies Act, 2013, mandates that a notice of every annual general meeting must be issued at least 21 clear days before the date of the Annual General Meeting. 'Clear days' means that the day of dispatch and the day of the meeting are excluded from the calculation. Board Approval Pre-requisite: The financial statements must be approved by the Board of Directors before they can be sent out to the shareholders along with the notice of the AGM. This is because the approved financial statements form part of the documents to be laid before the AGM. Conclusion: Therefore, the only statutory requirement regarding the timeline between these two events is that the Board must approve the financial statements sufficiently in advance to allow for the dispatch of the AGM notice and the financial statements at least 21 clear days before the AGM. There is no 45-day mandatory gap.