Question

Write a note on Statutory Report.

Answer 1

-the statutory meeting is the meeting held within minimum 1 month and maximum 6 months of business commencement.

-this meeting is held only once in a lifetime

-The notice for a statutory meeting should mention that a statutory meeting is going to be held on a specific date.

-Private companies and government companies are not bound to hold any statutory meetings.

-Only public limited companies are bound to hold statutory meetings within the specified period of time.