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CS Executive · Company Law and Practice · Key Managerial Personnel and their Remuneration

A general meeting of Kaveri Ltd considers an item of special business. Under Section 102, whose concern or interest must be set out in the statement annexed to the notice?

The statement must disclose the concern or interest of every director, the manager if any, every other key managerial personnel, and relatives of these persons. This is required by Section 102(1)(a) for each item of special business.

  1. AOnly directors and their relatives
  2. BDirectors, the manager if any, every other key managerial personnel, and relatives of these personsCorrect
  3. COnly promoters and auditors
  4. DOnly key managerial personnel and statutory auditors

Explanation

Section 102(1)(a) requires disclosure of the nature of concern or interest, financial or otherwise, of every director and the manager, if any, every other KMP, and the relatives of these persons. Limiting it to directors misses the KMP.

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