Q.What do you mean by Statutory Meeting ?

A statutory meeting is the first, once-in-a-lifetime general meeting of a public company's members, held between one and six months of the start of business, where the statutory report is presented.

The statutory meeting is studied in the Company Management chapter of the Tamil Nadu HSC Class-12 Commerce syllabus as the first meeting a public company holds with its members.

Meaning: A statutory meeting is the first general meeting of the shareholders of a public company. It is held only once during the entire life of the company.

Key features:

• It must be held within a period of not less than one month and not more than six months from the date on which the company becomes entitled to commence business.
• A statutory report — giving details such as shares allotted, cash received, preliminary expenses and directors — is prepared and sent to members before the meeting and placed before them at it. …