Statement to notice of meeting ‑ Statement not disclosing material facts pertaining to resolution

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..... resolution The Board has recently come across some instances where the letter and spirit of law in regard to the proper compliance of the provisions of section 173(2) which provide that where any items of special business are to be transacted at the annual general meeting or any other meeting, an explanatory statement setting out the material facts concerning each such item of business, shall .....

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..... ntments and/or remuneration were available for inspection at the registered office of the companies concerned. The Company Law Board is of the view that such explanatory statements which do not give a sufficiently full disclosure of the important facts material to the proposed resolution cannot be said to conform to the provisions of the law and are in any case contrary to good company practice. .....

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