Statutory meeting purpose. Minutes of Statutory Company Meetings 2019-02-09

Statutory meeting purpose Rating: 8,7/10 483 reviews

Statutory Meeting of a Company

statutory meeting purpose

Shares allotted: The total number of shares allotted distinguishing those allotted as fully paid up, partly paid up, shares issued for consideration other than cash etc. The notice must should also give the nature and extent of the interest of the directors or manager in the special business, as also the extent of the shareholding interest in the company of every such person. Applicability to certain Companies : Every company limited by shares, and every company limited by guarantee and having a share capital. A member may appoint another person to attend and vote at a meeting on his behalf. Particulars as regards cash in the Statutory Report are to be certified as correct by the auditors of the company.

Next

Types of Meetings and its Definition and Purposes

statutory meeting purpose

It is provided in section 157 2 of the companies ordinance that the director shall send a notice of statutory meeting at least 21 days before the day of the meeting to all the shareholders of the company. A notice calling a meeting must state the place, day and hour of the meeting and must contain the agenda of the meeting. Board Meetings Board meetings are held as often as individual organizations require. This meeting is held on the special occasions or you can say in the emergency situations when directors think that it necessary. Meeting of Creditors and Contributories : These meetings are held when the company has gone into liquidation to ascertain the total amount due by the company to its creditors.

Next

Company Meetings: 8 Main Types of Company Meetings

statutory meeting purpose

Check out our post about. Shareholders who do not attend the meeting in person may usually vote by , which can be done online or by mail. Minutes of Proceedings of Meetings Every company must keep minutes of the proceedings of general meetings and of the meetings of board of directors and its committees. At such meetings, generally nmmatters pertaining to the variation in terms of security or to alteration of their rights are discussed. Any other business is special business.


Next

What is a statutory meeting?

statutory meeting purpose

Reports by Inspectors appointed to investigate the affairs of the company. Occasion: This meeting must be held after 3 months, but before 6 months of obtaining the certificate of commencement of business. Other business enterprises arrange meeting to discharge their business activities. . All meetings should contribute to team building, strengthening relationships and corporate culture. This meeting is to be call and held by the directors of the company. However, where a copy of the requisition requiring notice of resolution has been deposited at the registered office of the company and an annual general meeting is called for a date six weeks or less after the requisition is deposited, the copy though not deposited within the prescribed time is deemed to have been properly deposited.

Next

Statutory Meeting

statutory meeting purpose

The state­ment must mention the time and place where all documents relating to special business can be in­spected. The rules of quorum must be maintained and the provisions of the Companies Act, 1956 and the articles must be complied with. Amount proposed to be carried on to reserved capital. Adjournment of statutory meeting : The meeting may adjourn from time to time, and at any adjourned meeting, any resolution of which notice has been given in accordance with the provisions of this Act, whether before or after the former meeting, may be passed; and the adjourned meeting shall have the same powers as an original meeting. The extra general meeting may be called in the following three ways.

Next

Company Meetings: 8 Main Types of Company Meetings

statutory meeting purpose

After the statutory report has been certified by , the auditors of the company must also certify the report in respect of the number of shares allotted, cash received on such shares and the receipts and payments of the company upto a date within seven days of the report. There are different types of meetings which are called on different occasions. The time of holding of the Annual Gen­eral Meeting may be fixed by the arti­cles of the company. Notice of the Meeting: The directors will send a notice of the meeting to all the members of the company at least 21 days before the meeting. Similarly, in case of winding up of a company, a meeting of creditors and of contributories is held to ascertain the total amount due by the company and also to appoint a liquidator to wind up the affairs of the company. If such a meeting is held within the period, it is not necessary for the com­pany to hold any annual general meet­ing in the year of its incorporation or in the following year.

Next

What is a statutory meeting?

statutory meeting purpose

There maust be a chairperson. Extraordinary General Meeting : Any general meeting of the company which is not an Annual General Meeting or a Statutory Meet­ing is called Extraordinary General Meeting. Here, general people are cordially invited. There are broadly three types of resolutions :- 1. The decisions at the meeting made by the prescribed majority are valid and lawful and binding upon the minority. Private Companies are not required to hold any such meeting. The notice may be given to any member either personally or by sending it by post to him at his registered address, or if there is none in India, to any address within India supplied by him for the purpose.

Next

Statutory Meeting of a Company

statutory meeting purpose

Law enforced the company to call this meeting. An application by a member of the company for this purpose must be made to the concerned Regional Bench of the Company Law Board by way of petition in Form No. A meeting so called and conducted shall be deemed to be a meeting of the company duly called and conducted. Statutory Meeting is the first meeting of the shareholders of a public company. The auditors of the company would then certify it as correct regarding the shares allotted, cash received in respect of such shares and the receipts and payments of the company. The meeting no longer exists once it has been dissolved.

Next

Company Meetings & Kinds Of Meetings

statutory meeting purpose

Any member has a right to inspect, free of cost during business hours at the registered office of the company, the minutes books containing the proceedings of the general meetings of the company. If default is made in complying with the pro­visions of Section 165, every Director or any other officer of the company who is in default shall be punishable with a fine which may extend to Rs. In such a case, it need not hold any annual general meeting in the year of its incorporation as well as in the following year only. Commission and brokerage: The particulars of commission and brokerage paid or to be paid to any director or manager in connection with the issue of shares or debentures. The expenses for this purpose must be borne by the requisitionists and must be tendered to the company. Amendment may be proposed by any member who has not already spoken on the main motion or has not previously moved an amendment thereto. Innovation meetings and creative meetings often start with thinking outside the box, by , associating, and sharing ideas in a broad scope.

Next

The Six Most Common Types of Meetings

statutory meeting purpose

In case the Company Law Board calls or directs the calling of a meeting of the company, when default is made in holding an annual general meeting, the government may give directions regarding the quorum including a direction that even one member of the company present in person, or by proxy shall be deemed to constitute a meeting. Certification and Filing of Statutory Report The Statutory Report must be carried as correct by not less than two directors of the company including the managing director, if there is one. Reports of Individual officers of the Company The term reports of individual officers of the company includes Company Secretary, Auditor, General Manager, Special Officer etc. Penalty: If the company fails to hold this meeting the company and every officer of the company shall be liable to fine. It must clearly state the place, date and hour of the meeting.


Next