Statement not disclosing material facts pertaining to resolution – Whether good company practice

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..... The Department has recently come across several cases where the letter and spirit of law in this regard have not been substantially complied with by several company managements. In some cases, the Department found that important material facts relating to the appointment of sole-selling agents under section 294 such as the nature of services to be rendered by the sole-selling agents to the comp .....

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..... olders cannot be said to conform to good company practice. It is hardly necessary to emphasize that notices for general meetings which are not accompanied by proper explanatory statements defeat the very purpose for which such statements were prescribed by law; nor can it be said that such purpose is served by the opportunity afforded to shareholders for inspection of the material documents at t .....

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