law: Companies Act, 2013 
  131.
  
    Voluntary
  
  revision of financial statements or Board’s report.
  1.      If it appears to the
  
  directors of a company that—
  a.     
  
    the
  
  financial statement of the company; or
  b.    
  
    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 such form and manner
  
  as may be prescribed and a copy of the order passed by the Tribunal shall be
  
  filed with the Registrar:
  Provided
  
  that 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:
  Provided
  
  further that such revised financial statement or report shall not be prepared
  
  or filed more than once in a financial year:
  Provided
  
  also that the detailed reasons for revision of such financial statement or
  
  report shall also be disclosed in the Board's report in the relevant financial
  
  year in which such revision is being made.
  1.     
  2.      Where copies of the
  
  previous financial statement or report have been sent out to members or
  
  delivered to the Registrar or laid before the company in general meeting, the
  
  revisions must be confined to—
  a.     
  
    the
  
  correction in respect of which the previous financial statement or report do
  
  not comply with the provisions of section 129 or section 134; and
  b.    
  
    the
  
  making of any necessary consequential alternation.
  1.     
  2.     
  3.      The Central
  
  Government may make rules as to the application of the provisions of this Act
  
  in relation to revised financial statement or a revised director's report and
  
  such rules may, in particular—
  a.     
  
    make
  
  different provisions according to which the previous financial statement or
  
  report are replaced or are supplemented by a document indicating the
  
  corrections to be made;
  b.    
  
    make
  
  provisions with respect to the functions of the company's auditor in relation
  
  to the revised financial statement or report;
  c.     
  
    require
  
  the directors to take such steps as may be prescribed.