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CMA Intermediate · Business Laws and Ethics · Key Managerial Personnel

Under Section 102, a statement annexed to the notice of a general meeting must set out the nature of concern or interest, financial or otherwise, in each item of special business of which persons?

The statement must disclose the interest of every director and the manager, if any, every other key managerial personnel, and the relatives of these persons, in each item of special business, as Section 102(1)(a) requires.

  1. AOnly the directors
  2. BEvery director and the manager, if any, every other key managerial personnel, and their relativesCorrect
  3. COnly the promoters and the auditors
  4. DOnly the managing director and the company secretary

Explanation

Section 102(1)(a) requires disclosure of the concern or interest of every director and the manager (if any), every other key managerial personnel, and the relatives of those persons. Limiting it to directors alone omits KMP and relatives.

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