MEETINGS AND PROCEEDINGS

Meetings of a company may be classified as follows…

Statutory meetings… A public company limited by shares or a

guarantee company having share capital is required to hold a statutory meeting. Such a statutory meeting is held only once in the lifetime of the company. Such a meeting must be held within a period of not less than one month or within a period not more than six months from the date on which it is entitled to commence business

Statutory report The report forwarded to every member

of the company by the board of members at least 21 days before the actual date of the meeting.

Procedure of the meeting…. List of the members Discussion of matters relating to

formational aspect Adjournment

Annual general meetings Must be held by every type of company,

public or private, limited by shares or by guarantee, with or without share capital or unlimited company, once a year. Every company must in each year hold an annual general meeting. Not more than 15 months must elapse between two annual general meetings.

Time and place of meeting 21 days notice

Extraordinary meetings

A meeting for transacting some urgent or special business which cannot be postponed till the next AGM.

Requisites of a valid meeting are…. Notice of meeting – should contain the

details of place, date, hour & purpose. Quorum for the meeting – minimum no.

of members that must be present to constitute a valid meeting. Minimum 5 for public company and 2 for any other company.

Chairman or the presiding officer must be present in the meeting.

Minutes of the meeting.

Proxies

An authority who can represent and vote for another person at a meeting is called a proxy.

Proxy to be in writing It should be deposited 48 hours before

the meeting.

Voting and Poll

Resolution

The questions which generally come for consideration at the general meeting of a company are presented in the form of proposals called ‘motions’ and when this motion is carried, it becomes a ‘resolution’.

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