Company Meetings & Proceedings

8/2/2019 Company Meetings & Proceedings

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COMPANY MEETINGS &

PROCEEDINGS

Submitted By :-

Rishibha Rai

Sultan Omar Salim

Gagandeep Singh Dhillon

Nikita Sangal

Anuj Diwakar


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COMPANY MEETINGS

A company is an association of several persons.

Decisions are made according to the majority.

Various matters have to be discussed and decided.

discussions take place between members and between

the directors.

must be at least 2 persons attending the meeting

One member cannot constitute a company meeting


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CLASSIFICATION OF MEETINGS

General Meetings

Statutory Meetings

Annual general Meetings

Extraordinary Meetings

Class meetings of shareholders :-

Meetings of creditors and debenture holders

During the lifetime of the company and

At the time of winding up of the compnay

Meetings of directors


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STATUTORY MEETINGS

Statutory meeting is the first meeting of the members of the publiclimited company. It is held only once in life of a public company. It canbe convened by the directors of the company only.

The statutory meeting is held byEvery public limited company limited by shares.Every company limited by guarantee.Every private company converted into a public company.

It is provided in companies' ordinance that the directors shall send anotice of statutory meeting at least 21 days before the day of themeeting to all the shareholders of the company. The directors shall notsend the statutory report duly certified by not less than three directors,one of whom shall be the chief executive of the company.

The business of the meeting is to consider the statutory report. Thestatutory report contains a brief account of the state of company'saffairs since its incorporation and the business plan. It describes theshares allotted by the company cash, cash received in respect of suchshares allot, an abstract of the receipts and payments of a company,names, occupation of the directors, etc


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PROCEDURE AT THE MEETING

Convening and Conducting of Statutory Meeting: As the statutory meeting is ameeting of the members of a company, all the provisions of general meetingunder section 171 to 187B will be applicable.

Statutory Report: The Board of Directors shall prepare a statutory reportcontaining all particulars as setout in sub-section (3) of section 165.

Certification of Statutory Report: The Statutory Report is required to be certified

by two or more director, one of them shall be the managing director

Notice of Statutory meeting: At least 21 days notice should be given to all themembers of the company for convening statutory meeting

Adjournment of Statutory Meeting: Statutory Meeting may adjourn from time totime and at any adjourned meeting, any resolution for which resolution has been

given may be passed. Filing of Statutory Report with Registrar: The Board of Directors of a company

shall deliver a copy of the said report in e-Form electronically to the Registrar

Penalty: If default is made in complying with the provisions of section 165 of theAct, every director or other officer of the company, who is in default shall be

punishable with fine, which may extended to Rs. 5000.


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ANNUAL GENERAL MEETING

Should not have more than 15 months interval.

1st general meeting- 18 months after incorporation.

Time and place of meeting 21 days notice

Consequences of failure to hold annual general meeting.

Power of company law board

Importance of annual general meeting.


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EXTRAORDINARY GENERAL MEETING

Ordinary meeting

Extraordinary meeting transacting some urgent business

which cannot be postponed.

(1) Extraordinary meeting convened by the Board of

directors.

(2) Extraordinary meeting convened by the requisiontists.


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REQUISITES OF A VALID MEETING

Proper Authority

Notice of meeting

Length of notice

Notice to whom

Contents of notice

o

Quorum for the meeting


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Chairman of the meeting

Minutes of the meeting.

Entries of proceedings of meetings

Signing of minutes

Fair and correct summary

Exclusions from minutes.


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VOTING AND POLL

The motions proposed in a general meeting of a

company are decided on the votes members of the

company.

Voting

Show of hands

The duty of thechairman is to countthe hands raised &

declare result

Taking a poll

Before or on thedeclaration of resultsa poll may be takenby a chairman of his

own accord


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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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Company Meetings & Proceedings

Documents

Transcript of Company Meetings & Proceedings