QS Study

Contents of Statutory Report

Contents of a statutory report are generally specified in the Companies Act. According to the Companies Act – 1994, a statutory report shall state the followings:

Allotment of shares: Statutory report must spell out the total number of shares allotted. Fully or partly paid up shares should be mentioned separately.

Abstract: An abstract of the receipts of the company and of the payments made, upto 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.

Amount of cub received: It should specify the total amount of cash received on different types of shares with particulars.

Names and address: It must reveal the names, addresses and descriptions of the directors, auditors, managing agent, managers and the secretary of the compass.

Contracts: The particulars of any contract or modifications of previous contracts if any should also be mentioned.

Underwriting contracts: Statutory report must mention the extent to which underwriting contracts have been carried out.

Arrears: 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.