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of <h1>Companies Fail to Comply with Section 173(2) by Omitting Key Details in Meeting Notices, Says Company Law Board.</h1> The Company Law Board has identified non-compliance with section 173(2), which requires explanatory statements to accompany notices of meetings where special business is transacted. These statements must disclose material facts, such as remuneration details and qualifications of appointees. Some companies have failed to provide adequate information, only indicating that documents are available for inspection. This practice is deemed non-compliant and contrary to good company practice, as it undermines the purpose of ensuring transparency and informed decision-making at general meetings. The Board emphasizes the importance of full disclosure in explanatory statements to meet legal requirements.
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