UNIT 4 MEETING AND RESOLUTION
Meeting- Statutory Meeting- Annual General Meeting- Extra Ordinary General Meeting-
Notice Of Meeting- Quorum-Proxy-Board Of Directors Meeting - Committee- Types
Of Committee- Audit Committee-Stake Holders Relationship Committee- Corporate
Social Responsibility Committee. Resolutions -Ordinary Resolution- Special
Resolution- Resolution Requiring Special Notice.
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MEETINGS
Meaning
A meeting is a gathering of people to present or exchange information, plan joint activities,
make decisions, or carryout actions already agreed upon. In other words, as assembly of
relevant persons validly convened through proper notice for transacting business mentioned in
an agenda is known as a meeting.
A company as a legal entity is capable of acting in its own name. but since it has no physical
existence, it has always to act only through its members or directors of a company. Only when act
as a body at the respective meetings through resolution, the company is perceived to be acting.
Hence the meetings are very important for transacting and implementation of business politics.
REQUISITES OF A VALID MEETING
A meeting is any kind, to be valid, must satisfy the following conditions.
1. It must be properly convened. That is, it should be called by the proper authority entitled
to call the meeting. The proper authority to convene the meeting is the Board of
directors, shareholders or the Company Law Board
2. It must be legally constituted. This means that the meeting shou ld have a proper
chairman; quorum must be present
3. It should be conducted according to the provisions of the Act and the Articles
4. It should be properly conducted
Notice of Meeting
Notice of Meeting of a Company. A Notice of Meeting of a Company is a document informing the members or
directors of a company about an upcoming meeting. This document specifies the date, time and place of the
meeting and the general nature of the business to be transacted at the meeting.
2
, KINDS OF MEETINGS
Meeting of director
MEETINGS OF SHAREHOLDERS
1. STATUTORY MEETING
The first meeting of the shareholders of a public limited company which is mandatory
as per the Companies Act is known as statutory meeting. Every public limited company limited by
shares and limited by Guarantee Company must compulsorily hold this meeting within 6
months and not earlier than one month from the date on which the company is entitled to
commence business. This is held only once in the life time of the company.
The object of the meeting is to afford an opportunity to the shareholders to know
important details of company formation, the success of its capital issue, properties that have
been acquired, etc. Along with the notice convening the meeting, a report called statutory report
must also be sent to all members at least 21 days before the date of the meeting.
This meeting provides an opportunity to members to discuss various matters relating to the
contents of statutory report. They can also effect any modification to the contracts mentioned
in the prospectus.
3
Meeting- Statutory Meeting- Annual General Meeting- Extra Ordinary General Meeting-
Notice Of Meeting- Quorum-Proxy-Board Of Directors Meeting - Committee- Types
Of Committee- Audit Committee-Stake Holders Relationship Committee- Corporate
Social Responsibility Committee. Resolutions -Ordinary Resolution- Special
Resolution- Resolution Requiring Special Notice.
---------------------------------------------------------------------------------------------------------
MEETINGS
Meaning
A meeting is a gathering of people to present or exchange information, plan joint activities,
make decisions, or carryout actions already agreed upon. In other words, as assembly of
relevant persons validly convened through proper notice for transacting business mentioned in
an agenda is known as a meeting.
A company as a legal entity is capable of acting in its own name. but since it has no physical
existence, it has always to act only through its members or directors of a company. Only when act
as a body at the respective meetings through resolution, the company is perceived to be acting.
Hence the meetings are very important for transacting and implementation of business politics.
REQUISITES OF A VALID MEETING
A meeting is any kind, to be valid, must satisfy the following conditions.
1. It must be properly convened. That is, it should be called by the proper authority entitled
to call the meeting. The proper authority to convene the meeting is the Board of
directors, shareholders or the Company Law Board
2. It must be legally constituted. This means that the meeting shou ld have a proper
chairman; quorum must be present
3. It should be conducted according to the provisions of the Act and the Articles
4. It should be properly conducted
Notice of Meeting
Notice of Meeting of a Company. A Notice of Meeting of a Company is a document informing the members or
directors of a company about an upcoming meeting. This document specifies the date, time and place of the
meeting and the general nature of the business to be transacted at the meeting.
2
, KINDS OF MEETINGS
Meeting of director
MEETINGS OF SHAREHOLDERS
1. STATUTORY MEETING
The first meeting of the shareholders of a public limited company which is mandatory
as per the Companies Act is known as statutory meeting. Every public limited company limited by
shares and limited by Guarantee Company must compulsorily hold this meeting within 6
months and not earlier than one month from the date on which the company is entitled to
commence business. This is held only once in the life time of the company.
The object of the meeting is to afford an opportunity to the shareholders to know
important details of company formation, the success of its capital issue, properties that have
been acquired, etc. Along with the notice convening the meeting, a report called statutory report
must also be sent to all members at least 21 days before the date of the meeting.
This meeting provides an opportunity to members to discuss various matters relating to the
contents of statutory report. They can also effect any modification to the contracts mentioned
in the prospectus.
3
