Under Section 102 Companies Act 2013, a statement (EXPLANATORY STATEMENT) annexed to the notice calling a general meeting shall set out:

1. Section 102(1) Companies Act 2013: 'A statement setting out the following material facts concerning each item of special business to be transacted at a general meeting, shall be annexed to the notice calling such meeting, namely: (a) the nature of concern or interest, financial or otherwise, if any, in respect of each items, of — (i) every director and the manager, if any; (ii) every other key managerial personnel; and (iii) relatives of the persons mentioned in sub-clauses (i) and (ii); (b) any other information and facts that may enable members to understand the meaning, scope and implications of the items of business and to take decision thereon.' 2. The explanatory statement is needed for SPECIAL business (Section 102(2) distinguishes ordinary business — accounts, dividend, retirement of directors and auditors). 3. Default in disclosure can be remedied by indemnity by promoter / director who derived benefit. 4. Hence option B is correct. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 102_