Arrange in the sequence, steps in the procedure for calling a statutory meeting of the company A. Contents of the statutory report B. A list of members must be produced at the commencement C. Twenty-one days notice D. Certification of the statutory report by not less than two directors, one of whom must be the managing director E. A certified copy of the statutory report must be delivered to the Registrar Choose the correct answer from the options given below

Arrange in the sequence, steps in the procedure for calling a statutory meeting of the company A. Contents of the statutory report B. A list of members must be produced at the commencement C. Twenty-one days notice D. Certification of the statutory report by not less than two directors, one of whom must be the managing director E. A certified copy of the statutory report must be delivered to the Registrar Choose the correct answer from the options given below Correct Answer C, A, D, E, B

The correct sequence is C, A, D, E, B

Key Points Statutory meeting:

• The first meeting of shareholders of a public company is known as the Statutory Meeting.
• It must be held no earlier than one month after the firm is granted permission to start doing business and no later than six months after that.
• It is only ever held once throughout a company's existence.
• It is not necessary for a private corporation or a company limited by guarantee without a share capital to hold such a meeting.
• The goal of the statutory meeting and its statutory report is to inform the firm's shareholders of all important information on the new company, including how many shares have been purchased, how much money has been received, etc.

Important Points Procedure of the Statutory Meeting:

1. The board of directors must forward a statutory report to every member of the company. This report must be sent at least 21 days before the meeting.
2. The statutory report contains information relating to shares allotted, Cash received, abstract of the receipts of the company and of the payments made, Directors, auditors and other managerial personnel, Contracts:etc.
3. According to Section 165(4), the statutory report must be certified as correct by not less than two directors; one of whom shall be the managing director, if any. The auditors of the company would then certify it as correct regarding the shares allotted, cash received in respect of such shares and the receipts and payments of the company.
4. As per provisions of Section 165(5), a certified copy of the statutory report shall be filed with the registrar for registration immediately after it has been sent to the members of the company.
5. The Board shall cause a list showing the names, addresses and occupations of the members of the company, and the number of shares held by them respectively, to be produced at the commencement of the statutory meeting, and to remain open and accessible to any member of the company during the continuance of the meeting.