Particulars as regards cash in the Statutory Report are to be certified as correct by the auditors of the company.
The members of the company who are present in the Statutory Meeting are at liberty to discuss any matter relating to the formation of the company or arising out of the Statutory Report, whether previous notice has been given or not. But no resolution can be passed of which notice has not been given in accordance with the provisions of the Act.
If default is made in complying with the provisions of Section 165, every Director or any other officer of the company who is in default shall be punishable with a fine which may extend to Rs. 500.