klnds of Company MeeLlngs

8roadly meeLlngs ln a company are of Lhe followlng Lypes

I Meet|ngs of Members
1hese are meeLlngs where Lhe members / shareholders of Lhe company meeL and dlscuss varlous
maLLers Member's meeLlngs are of Lhe followlng Lypes
A Statutory Meet|ng
publlc company llmlLed by shares or a guaranLee company havlng share caplLal ls requlred
Lo hold a sLaLuLory meeLlng Such a sLaLuLory meeLlng ls held only once ln Lhe llfeLlme of Lhe
company Such a meeLlng musL be held wlLhln a perlod of noL less Lhan one monLh or wlLhln
a perlod noL more Lhan slx monLhs from Lhe daLe on whlch lL ls enLlLled Lo commence
buslness le lL obLalns cerLlflcaLe of commencemenL of buslness ln a sLaLuLory meeLlng Lhe
followlng maLLers only can be dlscussed
1 lloaLaLlon of shares / debenLures by Lhe company
2 ModlflcaLlon Lo conLracLs menLloned ln Lhe prospecLus
1he purpose of Lhe meeLlng ls Lo enable members Lo know all lmporLanL maLLers perLalnlng
Lo Lhe formaLlon of Lhe company and lLs lnlLlal llfe hlsLory 1he maLLers dlscussed lnclude
whlch shares have been Laken up whaL money has been recelved whaL conLracLs have been
enLered lnLo whaL sums have been spenL on prellmlnary expenses eLc 1he members of Lhe
company presenL aL Lhe meeLlng may dlscuss any oLher maLLer relaLlng Lo Lhe formaLlon of
Lhe Company or arlslng ouL of Lhe sLaLuLory reporL also even lf no prlor noLlce has been
glven for such oLher dlscusslons buL no resoluLlon can be passed of whlch noLlce have noL
been glven ln accordance wlLh Lhe provlslons of Lhe cL
noLlce of aL leasL 21 days before Lhe meeLlng musL be glven Lo members unless consenL ls
accorded Lo a shorLer noLlce by members holdlng noL less Lhan 93 of voLlng rlghLs ln Lhe
company
1he 8oard of ulrecLors musL prepare and send Lo every member a reporL called Lhe
SLaLuLory 8eporL aL leasL 21 days before Lhe day on whlch Lhe meeLlng ls Lo be held 8uL lf
all Lhe members enLlLled Lo aLLend and voLe aL Lhe meeLlng agree Lhe reporL could be
forwarded laLer also 1he reporL should be cerLlfled as correcL by aL leasL Lwo dlrecLors one
of whom musL be Lhe managlng dlrecLor and musL also be cerLlfled as correcL by Lhe
audlLors of Lhe company wlLh respecL Lo Lhe shares alloLLed by Lhe company Lhe cash
recelved ln respecL of such shares and Lhe recelpLs and paymenLs of Lhe company
cerLlfled copy of Lhe reporL musL be senL Lo Lhe 8eglsLrar for reglsLraLlon lmmedlaLely afLer
coples have been senL Lo Lhe members of Lhe company
llsL of members showlng Lhelr names addresses and occupaLlons LogeLher wlLh Lhe
number shares held by each member musL be kepL ln readlness and produced aL Lhe
commencemenL of Lhe meeLlng and kepL open for lnspecLlon durlng Lhe meeLlng
lf defaulL ls made ln complylng wlLh Lhe above provlslons every dlrecLor or oLher offlcer of
Lhe company who ls ln defaulL shall be punlshable wlLh flne upLo 8s 300 1he 8eglsLrar or a
conLrlbuLory may flle a peLlLlon for Lhe wlndlng up of Lhe company lf defaulL ls made ln
dellverlng Lhe sLaLuLory reporL Lo Lhe 8eglsLrar or ln holdlng Lhe sLaLuLory meeLlng on or
afLer 14 days afLer Lhe lasL daLe on whlch Lhe sLaLuLory meeLlng oughL Lo have been held
ConLenLs of SLaLuLory 8eporL musL provlde Lhe followlng parLlculars
(a)1he LoLal number of shares alloLLed dlsLlngulshlng Lhose fully or parLly paldup
oLherwlse Lhan ln cash Lhe exLenL Lo whlch parLly pald shares are paldup and ln boLh cases
Lhe conslderaLlon for whlch Lhey were alloLLed
(b) 1he LoLal amounL of cash recelved by Lhe company ln respecL of all shares alloLLed
dlsLlngulshlng as aforesald
(c) n absLracL of Lhe recelpLs and paymenLs upLo a daLe wlLhln 7 days of Lhe daLe of Lhe
reporL and Lhe balance of cash and bank accounLs ln hand and an accounL of prellmlnary
expenses
(d) ny commlsslon or dlscounL pald or Lo be pald on Lhe lssue or sale of shares or
debenLures musL be separaLely shown ln Lhe aforesald absLracL
(e) 1he names addresses and occupaLlons of dlrecLors audlLors manager and secreLary lf
any of Lhe company and Lhe changes whlch have Laken place ln Lhe names addresses and
occupaLlons of Lhe above slnce Lhe daLe of lncorporaLlon
(f) arLlculars of any conLracLs Lo be submlLLed Lo Lhe meeLlng for approval and
modlflcaLlons done or proposed
(g) lf Lhe company has enLered lnLo any underwrlLlng conLracLs Lhe exLenL lf any Lo whlch
Lhey have noL been carrled ouL and Lhe reasons for Lhe fallure
(h) 1he arrears lf any due on calls from every dlrecLor and from Lhe manager
(l) 1he parLlculars of any commlsslon or brokerage pald or Lo be pald ln connecLlon wlLh Lhe
lssue or sale of shares or debenLures Lo any dlrecLor or Lo Lhe manager
Annua| Genera| Meet|ng
MusL be held by every Lype of company publlc or prlvaLe llmlLed by shares or by guaranLee wlLh or
wlLhouL share caplLal or unllmlLed company once a year Lvery company musL ln each year hold an
annual general meeLlng noL more Lhan 13 monLhs musL elapse beLween Lwo annual general
meeLlngs Powever a company may hold lLs flrsL annual general meeLlng wlLhln 18 monLhs from Lhe
daLe of lLs lncorporaLlon ln such a case lL need noL hold any annual general meeLlng ln Lhe year of
lLs lncorporaLlon
ln Lhe case Lhere ls any dlfflculLy ln holdlng any annual general meeLlng (excepL Lhe flrsL annual
meeLlng) Lhe 8eglsLrar may for any speclal reasons shown granL an exLenslon of Llme for holdlng
Lhe meeLlng by a perlod noL exceedlng 3 monLhs provlded Lhe appllcaLlon for Lhe purpose ls made
before Lhe due daLe of Lhe annual general meeLlng
Powever generally delay ln Lhe compleLlon of Lhe audlL of Lhe annual accounLs of Lhe company ls
noL LreaLed as speclal reason for granLlng exLenslon of Llme for holdlng lLs annual general meeLlng
Cenerally ln such clrcumsLances an CM ls convened and held aL Lhe proper Llme
noLlce of aL leasL 21 days before Lhe meeLlng musL be glven Lo members unless consenL ls
accorded Lo a shorLer noLlce by members holdlng noL less Lhan 93 of voLlng rlghLs ln Lhe company
1he noLlce musL sLaLe LhaL Lhe meeLlng ls an annual general meeLlng
1he Llme daLe and place of Lhe meeLlng musL be menLloned ln Lhe noLlce 1he noLlce of Lhe meeLlng
musL be accompanled by a copy of Lhe annual accounLs of Lhe company dlrecLor's reporL on Lhe
poslLlon of Lhe company for Lhe year and audlLor's reporL on Lhe accounLs Companles havlng share
caplLal should also sLaLe ln Lhe noLlce LhaL a member ls enLlLled Lo aLLend and voLe aL Lhe meeLlng
and ls also enLlLled Lo appolnL proxles ln hls absence proxy need noL be a member of LhaL
company proxy form should be enclosed wlLh Lhe noLlce 1he proxy forms are requlred Lo be
submlLLed Lo Lhe company aL leasL 48 hours before Lhe meeLlng
1he CM musL be held on a worklng day durlng buslness hours aL Lhe reglsLered offlce of Lhe
company or aL some oLher place wlLhln Lhe clLy Lown or vlllage ln whlch Lhe reglsLered offlce of Lhe
company ls slLuaLed 1he CenLral CovernmenL may however exempL any class of companles from
Lhe above provlslons lf any day ls declared by Lhe CenLral governmenL Lo be a publlc hollday afLer
Lhe lssue of Lhe noLlce convenlng such meeLlng such a day wlll be LraeLed as a worklng day
company may by approprlaLe provlslons ln lLs lLs arLlcles flx Lhe Llme for lLs annual general
meeLlng and may also by a resoluLlon passed ln one annual general meeLlng flx Lhe Llme for lLs
subsequenL annual general meeLlngs
1he followlng maLLers consLlLuLe ordlnary buslness aL an CM
O ConslderaLlon of annual accounLs dlrecLor's reporL and Lhe audlLor's reporL
O ueclaraLlon of dlvldend
O ppolnLmenL of dlrecLors ln Lhe place of Lhose reLlrlng
O ppolnLmenL of and Lhe flxlng of Lhe remuneraLlon of Lhe sLaLuLory audlLors
ln case any oLher buslness (speclal buslness) has Lo be dlscussed and declded upon an explanaLory
sLaLemenL of Lhe speclal buslness musL also accompany Lhe noLlce calllng Lhe meeLlng 1he noLlce
musL also glve Lhe naLure and exLenL of Lhe lnLeresL of Lhe dlrecLors or manager ln Lhe speclal
buslness as also Lhe exLenL of Lhe shareholdlng lnLeresL ln Lhe company of every such person ln
case approval of any documenL has Lo be done by Lhe members aL Lhe meeLlng Lhe noLlce musL also
sLaLe LhaL Lhe documenL would be avallable for lnspecLlon aL Lhe 8eglsLered Cfflce of Lhe company
durlng Lhe speclfled daLes and Llmlngs
Lxtraord|nary Genera| Meet|ng
Lvery general meeLlng (le meeLlng of members of Lhe company) oLher Lhan Lhe sLaLuLory meeLlng
and Lhe annual general meeLlng or any ad[ournmenL Lhereof ls an exLraordlnary general meeLlng
Such meeLlng ls usually called by Lhe 8oard of ulrecLors for some urgenL buslness whlch cannoL walL
Lo be declded Llll Lhe nexL CM Lvery buslness LransacLed aL such a meeLlng ls speclal buslness n
explanaLory sLaLemenL of Lhe speclal buslness musL also accompany Lhe noLlce calllng Lhe meeLlng
1he noLlce musL should also glve Lhe naLure and exLenL of Lhe lnLeresL of Lhe dlrecLors or manager ln
Lhe speclal buslness as also Lhe exLenL of Lhe shareholdlng lnLeresL ln Lhe company of every such
person
1he rLlcles of ssoclaLlon of a Company may conLaln provlslons for convenlng an exLraordlnary
general meeLlng Lg lL may provlde LhaL Lhe board may whenever lL Lhlnks flL call an exLraordlnary
general meeLlng or lL may provlde LhaL lf aL any Llme Lhere are noL wlLhln lndla dlrecLors capable
of acLlng who are sufflclenL ln number Lo form a quorum any dlrecLor or any Lwo members of Lhe
company may call an exLraordlnary general meeLlng
LxLraordlnary Ceneral MeeLlng on 8equlslLlon
1he members of a company have Lhe rlghL Lo requlre Lhe calllng of an exLraordlnary general meeLlng
by Lhe dlrecLors 1he board of dlrecLors of a company musL call an exLraordlnary general meeLlng lf
requlred Lo do so by Lhe followlng number of members
1 members of Lhe company holdlng aL Lhe daLe of maklng Lhe demand for an LCM noL less
Lhan oneLenLh of such of Lhe voLlng rlghLs ln regard Lo Lhe maLLer Lo be dlscussed aL Lhe
meeLlng or
2 lf Lhe company has no share caplLal Lhe members represenLlng noL less Lhan oneLenLh of
Lhe LoLal voLlng rlghLs aL LhaL daLe ln regard Lo Lhe sald maLLer
1he requlslLlon musL sLaLe Lhe ob[ecLs of Lhe meeLlngs and musL be slgned by Lhe requlslLlonlng
members 1he requlslLlon musL be deposlLed aL Lhe companys reglsLered offlce When Lhe
requlslLlon ls deposlLed aL Lhe reglsLered offlce of Lhe company Lhe dlrecLors should wlLhln 21 days
move Lo call a meeLlng and Lhe meeLlng should be acLually be held wlLhln 43 days from Lhe daLe of
Lhe lodgemenL of Lhe requlslLlon
|ass Meet|ng
Class meeLlngs are meeLlngs whlch are held by holders of a parLlcular class of shares eg
preference shareholders Such meeLlngs are normally called when lL ls proposed Lo vary Lhe rlghLs of
LhaL parLlcular class of shares L such meeLlngs Lhese members dlscuss Lhe pros and cons of Lhe
proposal and voLe accordlngly Class meeLlngs are held Lo pass resoluLlon whlch wlll blnd only Lhe
members of Lhe class concerned and only members of LhaL class can aLLend and voLe
unless Lhe arLlcles of Lhe company or a conLracL blndlng on Lhe persons concerned oLherwlse
provldes all provlslons perLalnlng Lo calllng of a general meeLlng and lLs conducL apply Lo class
meeLlngs ln llke manner as Lhey apply wlLh respecL Lo general meeLlngs of Lhe company
III Cther Meet|ngs
O MeeLlngs of Lhe 8oard of ulrecLors
O MeeLlng of debenLure holders company lssulng debenLures may provlde for Lhe holdlng
of meeLlngs of Lhe debenLureholders L such meeLlngs generally nmmaLLers perLalnlng Lo
Lhe varlaLlon ln Lerms of securlLy or Lo alLeraLlon of Lhelr rlghLs are dlscussed ll maLLers
connecLed wlLh Lhe holdlng conducL and proceedlngs of Lhe meeLlngs of Lhe
debenLureholders are normally speclfled ln Lhe uebenLure 1rusL ueed 1he declslons aL Lhe
meeLlng made by Lhe prescrlbed ma[orlLy are valld and lawful and blndlng upon Lhe
mlnorlLy
O MeeLlng of credlLors SomeLlmes a company elLher as a runnlng concern or ln Lhe evenL of
wlndlng up has Lo make cerLaln arrangemenLs wlLh lLs credlLors MeeLlngs of credlLors may
be called for Lhls purpose Lg u/s 393 a company may enLer lnLo arrangemenLs wlLh
credlLors wlLh Lhe sancLlon of Lhe CourL for reconsLrucLlon or any arrangemenL wlLh lLs
credlLors 1he courL on appllcaLlon may order Lhe holdlng of a credlLors s meeLlng lf Lhe
scheme of arrangemenL ls agreed Lo by ma[orlLy ln number of holdlng debLs Lo value of Lhe
LhreefourLh of Lhe LoLal value of Lhe debLs Lhe courL may sancLlon Lhe scheme cerLlfled
copy of Lhe courLs order ls Lhen flled wlLh Lhe 8eglsLrar and lL ls blndlng on all Lhe credlLors
and Lhe company only afLer lL ls flled wlLh 8eglsLrar
Slmllarly ln case of wlndlng up of a company a meeLlng of credlLors and of conLrlbuLorles ls held Lo
ascerLaln Lhe LoLal amounL due by Lhe company and also Lo appolnL a llquldaLor Lo wlnd up Lhe
affalrs of Lhe company
8equlslLes of a valld MeeLlngs
1he followlng condlLlons musL be saLlsfled for a meeLlng Lo be called a valld meeLlng
1 lL musL be properly convened 1he persons calllng Lhe meeLlng musL be auLhorlsed Lo do so
2 roper and adequaLe noLlce musL have been glven Lo all Lhose enLlLled Lo aLLend
3 1he meeLlng musL be legally consLlLuLed 1here musL be a chalrperson 1he rules of quorum
musL be malnLalned and Lhe provlslons of Lhe Companles cL 1936 and Lhe arLlcles musL be
complled wlLh
4 1he buslness aL Lhe meeLlng musL be valldly LransacLed 1he meeLlng musL be conducLed ln
accordance wlLh Lhe regulaLlons governlng Lhe meeLlngs
-ot|ce of Genera| Meet|ng
meeLlng cannoL be held unless a proper noLlce has been glven Lo all persons enLlLled Lo aLLend Lhe
meeLlng aL Lhe proper Llme conLalnlng Lhe necessary lnformaLlon noLlce convenlng a general
meeLlng musL be glven aL leasL 21 clear days prlor Lo Lhe daLe of meeLlng Powever an annual
general meeLlng may be called and held wlLh a shorLer noLlce lf lL ls consenLed Lo by all Lhe
members enLlLled Lo voLe aL Lhe meeLlng ln respecL of any oLher meeLlng lL may be called and held
wlLh a shorLer noLlce lf aL leasL members holdlng 93 percenL of Lhe LoLal voLlng power of Lhe
Company consenL Lo a shorLer noLlce
noLlce convenlng an CM musL be accompanled by Lhe annual accounLs of Lhe company Lhe
dlrecLor's reporL and Lhe audlLor's reporL 1he coples of Lhese documenLs could however be senL
less Lhan 21 days before of Lhe daLe of Lhe meeLlng lf agreed Lo by all members enLlLled Lo voLe aL
Lhe meeLlng
roxy
ln case of a company havlng a share caplLal and ln Lhe case of any oLher company lf Lhe arLlcles so
auLhorlse any member of a company enLlLled Lo aLLend and voLe aL a meeLlng of Lhe company shall
be enLlLled Lo appolnL anoLher person (wheLher a member or noL) as hls proxy Lo aLLend and voLe
lnsLead of hlmself Lvery noLlce calllng a meeLlng of Lhe company musL conLaln a sLaLemenL LhaL a
member enLlLled Lo aLLend and voLe ls enLlLled Lo appolnL one proxy ln Lhe case of a prlvaLe
company and one or more proxles ln Lhe case of a publlc company and LhaL Lhe proxy need noL be
member of Lhe company
member may appolnL anoLher person Lo aLLend and voLe aL a meeLlng on hls behalf Such oLher
person ls known as roxy member may appolnL one or more proxles Lo voLe ln respecL of Lhe
dlfferenL shares held by hlm or he may appolnL one or more proxles ln Lhe alLernaLlve so LhaL lf Lhe
flrsL named proxy falls Lo voLe Lhe second one may do so and so on
1he member appolnLlng a proxy musL deposlL wlLh Lhe company a proxy form aL Lhe Llme of Lhe
meeLlng or prlor Lo lL glvlng deLalls of Lhe proxy appolnLed
1he proxy can be revoked by Lhe member aL any Llme and ls auLomaLlcally revoked by Lhe deaLh or
lnsolvency of Lhe member 1he member may revoke Lhe proxy by voLlng hlmself before Lhe proxy
has voLed buL once Lhe proxy has exerclsed Lhe voLe Lhe member cannoL reLracL hls voLe Where
Lwo proxy forms by Lhe same shareholder are lodged ln respecL of Lhe same voLes Lhe lasL proxy
form wlll be LreaLed as Lhe correcL proxy form
;uorum
Cuorum refers Lo Lhe mlnlmum number of members who musL be presenL aL a meeLlng ln order Lo
consLlLuLe a valld meeLlng meeLlng wlLhouL Lhe mlnlmum quorum ls lnvalld and declslons Laken aL
such a meeLlng are noL blndlng 1he arLlcles of a company may provlde for a quorum wlLhouL whlch
a meeLlng wlll be consLrued Lo be lnvalld unless Lhe arLlcles of a company provlde for larger
quorum 3 members personally presenL (noL by proxy) ln Lhe case of a publlc company and 2
members personally presenL (noL by proxy) ln Lhe case of a prlvaLe company shall be Lhe quorum for
a general meeLlng of a company
lL has been held by CourLs LhaL unless Lhe arLlcles oLherwlse provlde a quorum need Lo be presenL
only when Lhe meeLlng commenced and lL was lmmaLerlal LhaL Lhere was no quorum aL Lhe Llme
when Lhe voLe was Laken lurLher unless Lhe arLlcles oLherwlse provlde lf wlLhln half an hour from
Lhe Llme appolnLed for holdlng a meeLlng of Lhe company a quorum ls noL presenL ln Lhe person
Lhe meeLlng lf called upon Lhe requlslLlon of members shall sLand dlssolved