COMPANY MEETINGS

COMPANY MEETINGS. Unit -3.

A meeting therefore, can be defined as a lawful association, or assembly of two or more persons by previous notice for transacting some business ..

Definition of Company Meeting. According to P.K. Ghosh Any gathering, assembly or coming together of two or more persons for the transaction of some lawful business of common concern is called meeting..

Characteristics of a Company Meeting:. Two or more persons (who are the members of the Company) must be present at the meeting. The assembly of persons must be for discussion and transaction of some lawful business. A previous notice would be given for convening a meeting. The meeting must be held at a particular place, date and time. The meeting must be held as per provisions/rules of Companies Act..

Kinds of Company Meetings:. The meetings of a company may be classified into the following categories: 1. Meetings of shareholders: I. Statutory meeting; II. Annual general meeting (AGM) III. Extra ordinary general meeting;.

IV. Class meetings. 2. Meetings of directors: 1. Meetings of board of directors; 2. Meetings of directors; 3. Meetings of creditors. 4. Meetings of debenture-holders..

1. MEETINGS OF SHARE HOLDRRS. The shareholders are the real owners of the company, but due to certain limitations they cannot take part in the management of the company. They leave this to their representatives called the directors. For controlling the board of directors and their activities ‘shareholders’ ‘meetings’ are held from time to time. Meeting of shareholders can be classified as under..

Statutory Meeting:. Every public company having share capital must convene a general meeting of shareholders within a period of not less than one month and not more than six months after the date on which it is authorised to commence its business. This is the first meeting of the shareholders of the company and it is held once in the whole life of the company..

The following companies need not to hold statutory meeting: (i) Private company. (ii) Company limited by Guarantee having no share capital. (iii) Unlimited liability company. (iv) A public company which was registered as a private company earlier. (v) A company which has been deemed as a public company under Sec. 43 A..

Notice of the Meeting: The directors are required to send a notice of the meeting to all the members of the company at least 21 days before the date of the meeting stating that it is the ‘statutory meeting’ of the company. If the notice convening this meeting does not name it as the Statutory Meeting it will not Amount to compliance with the provisions of this section..

Objects of Statutory Meeting: The statutory meeting is held to inform the shareholders about matters relating to incorporation, allotment of share, the details of the contracts concluded by the company, etc..

Thank you. nth$ridharan KOLAM.