"Chairperson of an annual general meeting must make a speech or give a statement at the meeting." Explain the validity of this statement pursuant to the provisions of the Companies Act, 2013.

There is no statutory provision under Companies Act, 2013 under which Chairperson of an Annual General Meeting must make a speech or statement at the meeting. Rather, it is a convention that the Chairperson of Annual General Meetings makes a statement or a speech which is a personal message or address to the shareholders. Chairman's speech usually gives an overview of the company's progress and future plans. Chairperson explains the working of the company during the year under review and current year in the speech. After chairperson's speech, ordinary and Special Businesses take place. Some companies also arrange for publication of Chairperson's statement in various newspapers, financial magazines and/or website of company.