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of <h1>Company Managements Must Disclose Full Details in Meeting Notices for Sole-Selling Agent Appointments u/s 294.</h1> The circular addresses the issue of company managements failing to disclose material facts in explanatory statements attached to meeting notices, particularly concerning the appointment of sole-selling agents under section 294. It highlights instances where details such as the services provided, commission rates, and remuneration were omitted. The Department emphasizes that such omissions compromise the validity of resolutions and do not align with good company practice. It stresses that merely offering shareholders the option to inspect documents at the company's registered office is inadequate, especially for those residing far from the office, thus defeating the purpose of the explanatory statements required by law.
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