Question

Write Notes on:
Statutory Meeting.

Answer 1

Statutory meeting is the meeting of shareholders of a company. According to Sec 165 of the companies act, every public limited by sharesor limited by guarantee, having share capital must hold this meeting. This meeting is held once in the lifetime of a company. A private company need not hold this meeting.

Objectives of meeting :

1. To comply with the provision of section 165 of the companies act 1956
2. To approve the statutory report
3. To inform the shareholders about the formation of company and made by the company.
4. To inform the shareholders about preliminary expenses made by promoters before incorporation of company
5. To inform the shareholders of any contract entered into by the company.
6. Appoint office bearers.