The Board of directors of a company shall, at least 21 days before the day on which the meeting is held, forward a report, which is called as "the statutory report" to every member of the company.
Companies on which section 165 is applicable:
Every company limited by shares, and
every company limited by guarantee and having a share capital.
Certification and signing of the Statutory Report:
(1) The statutory report shall be certified as correct by atleast 2 directors (one of whom shall be a managing director, if company has one).
(2) The statutory auditors of the company shall certify the contents of the report as correct insofar as the report relates to the shares allotted by the company, the cash received in respect of such shares and the receipts and payments of the company.
Contents of the Statutory Report:
The statutory report shall set out -
Total no. of shares allotted, distinguishing shares allotted as fully or partly paid-up otherwise than in cash, and stating in the case of shares partly paid-up, the extent to which they are so paid-up, and in either case, the consideration for which they have been allotted;
Total amount of cash received by the company by allotment of shares allotted each distinguished as said above;
An abstract of the receipts of the company and of the payments made thereout, up to a date within 7 days of the date of the report, showing each sources of receipts viz. shares, debentures and other sources & payments made thereout, and the balance remaining in hand, and an account or estimate of preliminary expenses, showing separately any commission/discount paid or to be paid on the issue or sale of shares or debentures ;
Names, addresses & occupations of directors, auditors and manager & secretary, if any, and the changes, if any, since the date of the incorporation ;
Particulars of any contract (with modification, if any) to be submitted to the meeting for approval;
The extent, if any, to which each underwriting contract, If any, has not been carried out, and the reasons therefor ;
Arrears, if any, due on calls from every director & manager ; and
Details of commission or brokerage paid or to be paid, if any, in connection with the issue or sale of shares /debentures to any director / manager.
ROC filing: This report is required to be submitted with Registrar of Companies by way of filing e-form 22 available at www.mca.gov.in/MCA21.
Provisions under the new companies act
There is no provision for statutory meeting under companies act 2013.