Topic –TYPES OF MEETINGS IN COMPANIES

 Key-Words – Proxy , Statutory , Board , annual , Waiver,

Dr. Dileep Kumar Singh

Institute of Management Studies
Faculty of Commerce and Management Studies
Mahatma Gandhi Kashi Vidyapith Varanasi – 221002
e-mail : singh96906238@gmail.com
Dr. Dileep Kumar Singh
Assistant Professor
Institute of Management Studies
Mahatma Gandhi Kashi Vidyapith
Varanasi

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 A meeting is a gathering of two or more people that has been convened for the
purpose of achieving a common goal through verbal interaction, such as sharing
information or reaching agreement.

 Shareholders meeting  Special meeting

i) Statutory meeting I) Class-meeting
II) Annual general meeting II) Creditors meeting
III) Extra-ordinary general meeting
 Directors meeting
I) Board meeting
II) Committee meeting
DEFINITION:
 Statutory meeting is the first meeting of the members of a public company.
 It is held once in the life of a public company that limited by shares.
 Statutory means legal, so this meeting is totally based on law.
 Must be certified by at least Two directors

OCCASION:
 This meeting must be held not less than 1 month but before 3 months of obtaining
the certificate of commencement of business.
NOTICE OF MEETING:
The directors will send a notice of the meeting to all the members of the company
at least 21 days before the meeting.
And also send a copy of statutory report to the shareholders

 To win confidence
 To provide latest information's
 To discuss future plans
 To discuss statutory report ; total numbers of shares issued , total receipts
and total payments , cash received against shares allocated , details of the
shares allocated.
DEFINITION:
 Every public company will hold Annual General Meeting of its members every
year.
 This meeting is to be call and held by the directors of the company.
 Mandatory for every type of company or for that matter.

OCCASION:
 The first annual general meeting must be held within 18 months from the date of
its incorporation.
 The next meeting must be held once in every calendar within 4 months after
closing its financial year.
• To receive and consider the Director’s and Auditors’reports.

• The Directors’ report and the Auditor’sreport.

• To sanction or declaration of the dividend (if any) recommended by the

directors.

• To appoint, or re-appoint, the directors.

• To appoint, or re-appoint, the auditors and fix their remuneration.

DEFINITION:
 All general meetings other than annual general meeting and statutory meeting
are known as Extra-Ordinary General Meetings.
 This meeting is held on the special occasions or it can say in the emergency
situations when directors think that is necessary. For example; at the plan of
merger.
OCCASION:
 This meeting is held on the special occasion and in the emergency situation.
NOTICE OF THE METING:
 The directors will send a notice of the meeting to all the members of the
company at least 21 days before the meeting.
DEFINITION:
 A Board of Directors generally must conduct a Board Meeting to make
company’s decisions, frame the general policy of the company, directs its
affairs, appoints the company officers, and ensure that they carry out their
duties and recommend to the shareholders regarding distribution of dividend.
 Not provided in the act.
 Usually – director may at any time summon a meeting of the directors.
 Board of Directors will hold the responsibility for the overall success and failure
of the corporation.
i. Special Meeting : A special meeting is one called by a majority of the
director for a particular purpose.

ii. Scheduled Meeting: A scheduled meeting is generallymset forth in the

corporation’s Bylaws or Articles of Incorporation.
 For any special situation, when the meeting is arranged by the company, it is
called special meeting. The types of the special meetings are as follows

 Class-meeting The Company has different kinds of shares. When the meeting
is arranged by any one kind of shareholders it is called class meeting.

 Creditors meetingThe directors or their appointed lower can invite this type of
meeting. Moreover this type of meeting may be arranged by the order of the
court. If necessary to reconstruct or to dissolve or to any amalgamate the
company to preserve the rights of the creditor this type of meeting is invited by
their proper authoritative person.

The creditors who will be present in the meeting or the presence of

three- fourth credit holders of the total credit can take the decision and
the court will give the instruction on the basis of this decision and the
creditors are bounded to abide by the decision.
Under Section 145 A of CompaniesAct Anywhere in Malaysia Not necessary at registered
office More that one venue Can use technologies (Skype, Power Point Presentation)

AGENDA:
Unless the articles of a company provided, agenda is not required by law to be
given to every director.
i. Adoption of Minutes of previous AGM or EGM;
ii. Annual Report of Board;
iii. Audited accounts;
iv. Reappointment of retiringAuditors;
v. Election of Directors;
vi. Consider & decide resolutions for which due notice has been given.
•Fixed by the directors.
•Minimum number of members who must be present at the meeting to constitute a
valid meeting. Can increase the number of members through Article ofAssociation.
75% members can attend the meeting.

PROXY:
•A proxy is a person nominated by the member to attend the meeting and to exercise the
member’s vote on their behalf.
•A proxy is also entitled to speak at a meeting on behalf of the member.
•The person nominated by proxy does not have to be a member of the company
 Minutes are a record of what the company and directors do in meetings. The
book in which the record of the proceedings of a meeting is kept is known as
the minute book. Separate minute books are required to be kept.

 Each page of the minute book which records proceedings of a Board meeting
shall be initialed or signed by the chairman of the same meeting or the next
succeeding meeting.
Short answer question
Q.1 What is AGM?
Q2. Explain various types of Meetings?
Q3. Describe Class Meeting.
•Anand, R.L. & Iyer, Commentary on the Specific Relief Act, 1963 (Act No. 47 of
1963), ed.12th, (2011), Delhi Law House. .
•Awasthi, S.K., “Digest on Indian Contract Act, 1872: with allied legislations”,
ed.1st, (1999), Dwivedi & Co., Allahabad.
•Bangia, R.K. (Dr.), “Law of Contract & Specific Relief with Special emphasis on
Law of Tender”, 1994(1), reprint 2015.
•Beatson, J.,“Anson‟s Law of Contract”, ed.27th, (1998), and ed.28th, (2002),
published by Nairobi: Oxford University Press.
•Bhadbhade, Neelima,“Contract Law in India”, ed.2nd, (2012), published by Kluwer
Law Intl.
•Chawla, R.C. & Garg, K.C., “Business and Company Law”, ed.1st, (1996), Kalyani
Publishers, New Delhi.

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