Section 129 Companies Act 2013 prescribes the form and content of financial statements. The financial statements shall give a TRUE AND FAIR VIEW of the state of affairs and shall comply with:

1. Section 129(1) Companies Act 2013: 'The financial statements shall give a TRUE AND FAIR VIEW of the state of affairs of the company or companies, comply with the accounting standards notified under section 133 and shall be in the form or forms as may be provided for different class or classes of companies in Schedule III.' 2. Section 133 empowers Central Government to prescribe accounting standards in consultation with the National Financial Reporting Authority (NFRA) — the Indian Accounting Standards (Ind-AS) for specified classes; Accounting Standards (AS) for others. 3. Section 129(2): financial statements shall be laid before AGM. 4. Section 129(3): consolidated financial statements required where company has subsidiary/associate/JV. 5. Hence option B is correct. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 129; Section 133_