With reference to a Statutory Meeting, answer the following questions

1.	With reference to a Statutory Meeting, answer the following questions :(i) When can it be called ? (ii) Why is it called ? (iii) What is the frequency of this meeting ? (iv) List any two contents of statutory report. (v) Name the two types of companies that need not hold such a meeting. (vi) Name the two types of companies that ‘must’ hold such a meeting, as per the
Answer» A statutory meeting is called after one month but before 6 months from the date of commencement of business. A statutory meeting is called once in the life time of a public company. It is called to familiarize shareholders with all important matters relating to a new company. It is held only once in the life time of a public company. Two contents of statutory reports are : • The total number of shares alloted, amount paid up thereon and the consideration for which they have been allotted. • As summary of cash received and paid and the amount in hand. Two types of companies that need not hold such a meeting are : • private company • a company limited by guarantee and not having a share capital. Two types of companies that ‘must’ hold such a meeting as per Indian Companies Act 1956 are 1. Public limited companies limited by shares 2. Public limited companies limited by guarantee and having a share capital.

With reference to a Statutory Meeting, answer the following questions :(i) When can it be called ? (ii) Why is it called ? (iii) What is the frequency of this meeting ? (iv) List any two contents of statutory report. (v) Name the two types of companies that need not hold such a meeting. (vi) Name the two types of companies that ‘must’ hold such a meeting, as per the

Answer»

A statutory meeting is called after one month but before 6 months from the date of commencement of business. A statutory meeting is called once in the life time of a public company.

It is called to familiarize shareholders with all important matters relating to a new company.

It is held only once in the life time of a public company.

Two contents of statutory reports are :

• The total number of shares alloted, amount paid up thereon and the consideration for which they have been allotted.

• As summary of cash received and paid and the amount in hand.

Two types of companies that need not hold such a meeting are :

• private company

• a company limited by guarantee and not having a share capital.

Two types of companies that ‘must’ hold such a meeting as per Indian Companies Act 1956 are

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