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of <h1>Section 102 of Companies Act, 2013: Disclose material facts for special business items in meetings or face penalties.</h1> Section 102 of the Companies Act, 2013 mandates that a statement detailing material facts for each special business item at a general meeting must accompany the meeting notice. This includes the nature of interest of directors, managers, key managerial personnel, and their relatives. In annual general meetings, only certain business is not considered special. If the business affects another company, shareholding interests of 2% or more must be disclosed. Documents referenced must be accessible for inspection. Non-disclosure leading to benefits requires compensation to the company, and defaults incur penalties of fifty thousand rupees or five times the benefit amount.
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