Company Meetings

A meeting may be convened by the director, requisitionist, or the NCLT Notice to be given by the secretary after the time and place have been fixed by the directors Even the shareholders can call a meeting as an extraordinary general meeting (EGM) The NCLT can call an Annual General Meeting (AGM)

Classification of Meetings
Shareholders meetings a) Statutory meetings ( which happens only once in the lifetime of the company) b) EGM- Convened to transact some special or important decision to be taken c) Class meetings- This is the meeting of the shareholders- which is convened by the class of shareholders based on the kind of shares they hold. continued..

Other meetings
AGM-it can be conducted based on the provisions given in the Articles or by passing a resolution in one AGM for the subsequent AGMs Board Meetings- This is conducted for the smooth running of the company and for collectively taking the decisions. The meetings may be conducted to call on shares, issue debentures, borrow money, to make loans, To invest the funds etc

How to conduct meeting?

Written notice to be given Notice to be issued under the authority of the company In case of failure to give a notice, the persons concerned may be punished with fine and the proceedings of the meeting will be rendered invalid.

Resolution
A motion when passed is called a resolution. The resolution in the General body meetings can be an ordinary resolution ( Simple majority) and special resolution. Special resolution- ( notice of 21 days to be given) the notice has to specify the purpose. The number of votes to be cast in favour of the resolution is to be three times the number vote cast against.

 The minimum members to be present must be according to the provisions of the law. Public company ( minimum Five) and private company (minimum of 2) The quorum must be those members who are eligible to vote in respect of the agenda of the meeting. If the quorum is not present within half an hour from the appointed time, either the meeting stands dissolved or may be adjourned in the same day next week or any other as may be determined by the directors A person in case of being incapable to attend a meeting and who is eligible to vote may appoint a proxy in writing to attend the meeting of the member and vote on his or her behalf. The proxy can only vote and cannot participate in the discussions.

Quorum and proxy