Meetings

Made by-RATI GUPTA

RAHUL KATHURIA

MEANING OF A COMPANY MEETING

When two or more than two persons get together at one place to discuss any common issue, it is called Meeting.Meetings of the shareholders or of the directors or the debenture holder or of the contributories, are called Meeting of a company.

TYPES OF COMPANY MEETINGS

MEETINGS OF SHAREHOLDERS

MEETINGS OF DIRECTORS

MEETINGS OF DEBENTUREHOLDER

MEETINGS OF CREDITORS

1. Statutory Meeting

2. Annual General Meeting

1. Meeting of Board of directors

2. Meeting of Directors committee

1. Meeting at any time other than winding up.

2. Meeting at the time of winding up.

1) MEETINGS OF SHAREHOLDERS

• Meetings of shareholder are called General Meetings. Such meetings are the most important meetings in the life of a company because the shareholders are the real owners of the company but the company is not managed by them. The company is managed by their elected representative called Directors.

TYPES OF SHAREHOLDERS MEETING

A. STATUTORY MEETING -: It is the first official general

meeting of the shareholders of a company. It is called only for one time in the life of a company. It must be held within a period of not less than one month and not more than six months from the date at which the company becomes entitled to commence business. If the company does not call its statutory meeting within a period of six months from the date of certificate of commencement of business ,the court may order for the compulsory winding up of the company.

B. ANNUAL GENERAL MEETING -:

Annual general meeting is the most important meeting of the members of the company, held every year. According to the provisions of Indian Companies Act, every company must call a general meeting as its annual general meeting every year. The first annual general meeting of a company must be held within 18 months from the date of its incorporation. Subsequent annual general meeting must be held every year. It should be held with the purpose of reviewing and evaluating the over all progress of the company. The annual accounts ,the balance sheet and the reports of the board of directors and auditors are also considered at this meeting.

C. EXTRAORDINARY GENERAL MEETING-:

• All general meetings other than statutory meetings and annual general meetings, are called Extraordinary General Meeting.

• These meetings may be held by the company at any time. Generally, an Extraordinary General Meeting is called to discuss the matter of business transaction which cannot be postponed till the next annual general meeting.

D. CLASS MEETING

• When a meeting is called of a particular group of shareholders, is called CLASS MEETING.

• A Class meeting is called to discuss some special issues, concern to the shareholders of who the meeting is called, such as , Meeting called to change the rights of shareholders of a particular class.

2 )MEETING OF DIRCETORS

Directors are the elected representatives of the shareholders of a company. They are the persons, authorized, liable and responsible for the management, administration and control of the company. They carry on the management of the company in accordance with the provisions of Indian Companies Act, memorandum and articles of association of the company.

TYPES OF MEETING OF DIRECTORS-:

• Meeting of board of Directors

• Meetings of the committee of Directors

3) Meetings of Debenture holders-:

• The company may call the meeting of its debenture holders to get their approval for making any change in their terms and conditions.

4 )MEETING OF CREDITOR

• A Company may call the meeting of its Creditors in the following circumstances- :

• - Meeting at any time, other than winding-up

• - Meeting at the time of winding –up