What is the purpose of a company's annual general meeting?

To discuss matters of common interest among shareholders.

To ratify decisions made by the directors in their meetings.

To review the company's financial statements and elect directors.

To conduct meetings with creditors and auditors.

When should a company's first annual general meeting be held?

Within 12 months from the date of incorporation.

Within 6 months from the date of incorporation.

Within 18 months from the date of incorporation.

Within 24 months from the date of incorporation.

What is the consequence of not delivering the statutory report to the Registrar?

A fine of up to Rs. 500 will be imposed on the company.

The directors will be disqualified from holding office.

The company will be compulsorily wound up by the Court.

The company will lose its legal status.

What is the purpose of a statutory meeting?

To review the company's financial statements.

To elect directors for the upcoming year.

To put shareholders in possession of important facts about the company.

To discuss matters of common interest among shareholders.

What action should a company take if it holds its first annual general meeting within 12 months of incorporation?

Hold another annual general meeting within the same year.

Hold another annual general meeting in the following year.

No need to hold any more annual general meetings in the current year or the following year.

Hold an extraordinary general meeting in addition to the annual general meeting.

What is the primary objective of an annual general meeting?

To discuss matters of common interest among directors.

To review the company's financial statements.

To elect the managing director.

To approve mergers and acquisitions.

What is the penalty for default in complying with the provisions of a statutory meeting?

A fine of up to Rs. 500 on the directors.

Disqualification of the auditors.

Compulsory winding up of the company by the Court.

Suspension of the company's operations for a year.

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