Statutory Meeting and Annual General Meeting are two important meetings in the life of a company. While both meetings are held by the company, there are significant differences between the two. In this response, we will explore the differences between Statutory Meeting and Annual General Meeting.

Statutory Meeting:

Statutory Meeting is the first meeting held by a company after its incorporation. This meeting is mandatory for every public limited company and must be held within six months of the company's incorporation. The purpose of this meeting is to provide an opportunity for the shareholders to discuss the company's progress, financial position, and other important matters. Some of the key features of a Statutory Meeting are:

- Purpose: To provide an opportunity for shareholders to discuss the company's progress, financial position, and other key matters.
- Timing: Must be held within six months of the company's incorporation.
- Attendance: All shareholders must be invited to attend the meeting.
- Agenda: The agenda for the meeting must be sent to the shareholders at least 21 days before the meeting.
- Quorum: At least 25% of the total number of shareholders must be present for a valid meeting.

Annual General Meeting:

Annual General Meeting (AGM) is held once a year by every company. The purpose of this meeting is to provide the shareholders with an opportunity to review the company's performance over the past year, elect directors, and approve the company's financial statements. Some of the key features of an Annual General Meeting are:

- Purpose: To review the company's performance over the past year, elect directors, and approve the financial statements.
- Timing: Must be held within six months of the end of the company's financial year.
- Attendance: All shareholders must be invited to attend the meeting.
- Agenda: The agenda for the meeting must be sent to the shareholders at least 21 days before the meeting.
- Quorum: At least 25% of the total number of shareholders must be present for a valid meeting.

Key Differences:

- Statutory Meeting is held only once in the lifetime of a company, while Annual General Meeting is held once a year.
- Statutory Meeting must be held within six months of the company's incorporation, while Annual General Meeting must be held within six months of the end of the company's financial year.
- The purpose of Statutory Meeting is to provide an opportunity for shareholders to discuss the company's progress, financial position, and other important matters, while the purpose of Annual General Meeting is to review the company's performance over the past year, elect directors, and approve the financial statements.

Conclusion:

In conclusion, Statutory Meeting and Annual General Meeting are two important meetings in the life of a company. While both meetings have some similarities, there are significant differences between them. It is important for every company to hold these meetings as per the legal requirements to ensure transparency and accountability to the shareholders.