Statutory meeting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 January 2012 Please let me know the consequences of not holding of statutory meeting as per section 165 of the companies act. Is there any other consequences apart from penalty prescribed under Section 165 (9) of the said act.

Guest

Guest (Expert)

19 January 2012 Company can be wound up u/s 433 (b) if default is made in holding statutory meeting or delivering statutory report to ROC

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 January 2012 If default is made in complying with the provisions of section 165 of the Act, every director or other officer of the company, who is in default, shall be punishable with fine, which may extend to Rs. 5,000.

Failure to file statutory report or to hold statutory meeting are valid grounds for a petition for compulsory winding up of a company under section 433.

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