Statement to be annexed to notice

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..... r interest, financial or otherwise, if any, in respect of each items of- ( i ) every director and the manager, if any; ( ii ) every other key managerial personnel; and ( iii ) relatives of the persons mentioned in sub-clauses ( i ) and ( ii ); ( b ) any other information and facts that may enable members to understand the meaning, scope and implications of the items of business and to take decisio .....

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..... very other key managerial personnel of the first mentioned company shall, if the extent of such shareholding is not less than two per cent of the paid-up share capital of that company, also be set out in the statement. (3) Where any item of business refers to any document, which is to be considered at the meeting, the time and place where such document can be inspected shall be specified in the st .....

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..... ion (4), if any default is made in complying with the provisions of this section, every promoter, director, manager or other key managerial personnel of the company who is in default shall be liable to a penalty of fifty thousand rupees or five times the amount of benefit accruing to the promoter, director, manager or other key managerial personnel or any of his relatives, whichever is higher. ] * .....

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