State the procedure for voluntary revision of financial statements or the board's report by a Company.

Section 131(1) of the Act provides for conditions regarding voluntary revision of financial statements or Board's Report by a company, if it appears to the directors of a company that the financial statement of the company; or the report of the Board, do not comply with the provisions of section 129 or section 134 they may prepare revised financial statement or a revised report in respect of any of the three preceding financial years after obtaining approval of the Tribunal on an application made by the company in the following manner. The company is required to make an application to the Tribunal in Form NCLT-1 and all relevant attachments shall be accompanied with Form NCLT-2. Every petition shall be verified by an affidavit in Form NCLT-6. The company shall be required to make an advertisement thereby explaining the facts of the case in Form NCLT-3A. The Tribunal shall give notice to the Central Government and the Income-tax authorities and shall take into consideration the representations, if any, made by that Government or the authorities before passing any order under this section. The matter shall be heard by the NCLT and disposed off on its merits. The necessary order shall be passed and the same shall be required to be filed with the ROC.