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Business Environment and Law-Meetings And Resolutions

Meetings And Resolutions

   Posted On :  14.05.2018 10:15 pm

Broadly speaking, company meetings may be classified as follows:

Meetings And Resolutions

General Meetings Of Shareholders:
 
 

Kinds Of Company Meetings:

 
 
Broadly speaking, company meetings may be classified as follows:
 
 
1. Meetings of Shareholders or Members: This again may be of four types:
 
            Statutory Meeting
 
            Annual General Meeting
 
            Extraordinary General Meeting
 
            Class Meetings
 
2. Meetings of Directors
 
 
            Meetings of Board of Directors
 
            Meetings of Committees of Directors
 
            MeetingsofCreditors,DebentureholdersandContributories.
 

1. Statutory Meeting (Sec. 165):

 
 
Every company limited by shares and every company limited by guarantee and having a share capital shall, within a period of not less than one month and not more than six months from the date at which the company is entitled to commence business, hold a general meeting of the members of the company. This meeting is called the ‘statutory meeting’. This is the first meeting of the shareholders of a public company and is held only once in the lifetime of a company.
 

Statutory report:

 
 
The Board of Directors shall, at least 21 days before the day on which the meeting is to be held, forward a report, called the ‘statutory report’, to every member of the company.

 Procedure at the meeting:

 
 
            List of members.
 
            Discussion of matters relating to formational aspect.
 
            Adjournment.
 

Objects of the meeting and report

 
 
            To put the members of the company in possession of all the important facts relating to the company.
 
            To provide the members an opportunity of meeting and discussing the management, methods and prospects of the company.
 
            To approve the modification of the terms of any contract named in the prospectus.

 

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