**Statutory Meeting:**

A statutory meeting is a meeting that is required by law for certain types of organizations. It is typically held once in the life of the company, shortly after its incorporation. The purpose of a statutory meeting is to provide shareholders with important information regarding the company's financial position, operations, and future plans.

**Requirements for Statutory Meeting:**

1. Timeframe: A statutory meeting must be held within a specific timeframe, usually within six months of the company's incorporation.

2. Notice: The company must give at least 21 days' notice to all shareholders, specifying the date, time, and location of the meeting.

3. Attendance: All shareholders must be invited to attend the statutory meeting.

4. Agenda: The agenda for a statutory meeting typically includes the presentation of the company's audited accounts, the director's report, and any other important matters related to the company.

5. Quorum: A minimum number of shareholders, known as a quorum, must be present for the meeting to be valid.

6. Chairman: The meeting is chaired by a director or a shareholder appointed by the board of directors.

**Annual General Meeting (AGM):**

An annual general meeting is a mandatory meeting that is held once a year for all types of companies. It is an opportunity for shareholders to discuss and vote on important matters concerning the company's operations, financial statements, appointment of auditors, and other significant matters.

**Requirements for Annual General Meeting:**

1. Timeframe: An AGM must be held within a specific timeframe, usually within six months of the company's financial year-end.

2. Notice: The company must give at least 21 days' notice to all shareholders, specifying the date, time, and location of the meeting.

3. Attendance: All shareholders must be invited to attend the AGM.

4. Agenda: The agenda for an AGM typically includes the approval of the previous year's financial statements, election or re-election of directors, appointment of auditors, and any other relevant matters.

5. Quorum: A minimum number of shareholders, known as a quorum, must be present for the meeting to be valid.

6. Chairman: The meeting is chaired by a director or a shareholder appointed by the board of directors.

**Differences between Statutory Meeting and Annual General Meeting:**

1. Timing: A statutory meeting is held shortly after incorporation, while an AGM is held once a year.

2. Frequency: A statutory meeting is held only once, while an AGM is held annually.

3. Purpose: The purpose of a statutory meeting is to provide shareholders with important information about the company's financial position and operations. The purpose of an AGM is to discuss and vote on important matters concerning the company.

4. Applicability: A statutory meeting is required by law for certain types of organizations. An AGM is mandatory for all types of companies.

5. Agenda: The agenda for a statutory meeting is predetermined and includes specific items. The agenda for an AGM is more comprehensive and covers a wider range of topics.

In conclusion, while both statutory meetings and annual general meetings are important for companies, they differ in terms of timing, frequency, purpose, and applicability. It is essential for companies to comply with the legal requirements and hold these meetings to ensure transparency and accountability to their shareholders.