Contents of Statutory Report
Contents of Statutory Report
Contents of Statutory Report
▪ Allotment of shares
The statutory report must spell out the total number of shares allotted. The total
number of shares allotted distinguishing those allotted as completely paid up,
partially paid up, shares issued for consideration other than cash, etc. Fully or
partly paid-up shares should be mentioned separately. Distinguishing shares
allocated as fully or partly paid up otherwise than in cash, and stating shares partly
paid up, the extent to which they are so paid up and in either case the consideration
for which they have been allocated.
▪ Abstract
An abstract of the receipts of the company and of the payments made, up to a date
within seven days of the day of the report. The receipts should clearly state the
amount received in respect of shares, debentures. The payments made for various
purposes should be clearly stated. An abstract of receipts and payments made
there out up to the date of the report, and an account or estimate of the beginning
expenses.
It should specify the total amount of cash received on different types of shares with
particulars. The total amount of cash received by the company in respect of all the
shares selected. The total amount of cash received by the company in admiration
of shares allocated.
▪ Directors,
auditors and other managerial personnel (Names and
address)
It must reveal the names, addresses, and descriptions of the directors, auditors,
managing agent, managers and the secretary of the compass. The names,
occupations, and address of all the directors, auditors, manager, and secretary of
the company. Changes if any that have occurred should also be mentioned.
▪ Contracts
The statutory report must mention the extent to which underwriting contracts have
been carried out. The extent to which each underwriting contract has not been
carried out along with the reasons.
▪ Arrears of calls
The arrears on calls from directors and manager. The arrears due on calls from
directors, managing agents and managers should also be included in it.
▪ Commission or brokerage
It must contain the particulars of any commission or brokerage paid to any director,
managing agent or manager in connection with the sale of shares. The particulars
of commission and brokerage paid or to be paid to any director or manager in
connection with the issue of shares or debentures.