PRESENTATIONPRESENTATIONONON

GUIDED BY :GUIDED BY :

Pro. D.K.Pandey

PRESENTED BY:PRESENTED BY:

ABHISHEK KUMAR

AVIK GHOSH

AJAY VERMA

ANKIT VERDHIYA

ABHIJEET DEB ROY

VIVEK TRIPATHI

INTODUCTION :INTODUCTION :

MEETING: A meeting can be defined as a gathering or an assembly or getting together of a number of persons for transacting a lawful business having certain purpose or purposes.

In respect of Company Meetings , there are applicable provisions which are defined in the Companies Act 1956 and the Rules made thereunder.

REQUISITES OR ESSENTIALS OF A REQUISITES OR ESSENTIALS OF A MEETING:MEETING:

Proper authority to convene and hold a company meeting;

*Board of Directors,Shareholders or Company Law Board.

Notice(Sec.172) Agenda(Sec.173) Quorum-minimum no.of members.(Sec.174) Chairman(Sec.175) Proxy(Sec.176)

Resolutions

* Ordinary Resolution{Sec.189(1)}

*Special Resolution{Sec.189(2)}

*Resolution requiring special notice{Sec.189(3)}

Minutes(sec.193)of Companies Act 1956.

♦ Ascertainment of sense of meeting- voting(Sec.177) *Acclamation show of hands,Ballot,Voice,Division, Poll.

TYPES OF MEETINGSTYPES OF MEETINGS :

1. BOARD MEETINGS

2. MEETINGS OF THE COMMITTIES OF BOARD

3. MEETINGS OF DEBENTURE HOLDERS

4. MEETINGS OF CREDITORS FOR THE PURPOSE OTHER THAN WINDING UP AND FOR THE PURPOSE OF WINDING UP

5. MEETINGS OF CONTRIBUTORIES IN WINDING UP

Contd--

6. SHAREHOLDERS MEETINGS

Statutory Meeting

Annual General Meeting

Extra-ordinary General Meeting

Class Meetings.

STATUTORY MEETING(Sec.165)STATUTORY MEETING(Sec.165)

Only once during the lifetime of the company.

To know the financial position and prospectus at an early date.

Has to be called within six(6) months.

At least 21 days before the meeting ,the directors send statutory report to shareholders.

cont’d--

IImportant provisions have en defined in Sec.165 of mportant provisions have en defined in Sec.165 of Companies Act 1956. Which are as follows:Companies Act 1956. Which are as follows:

Sec.165(1)– Every company limited by shares,guarantee and having share capital shall be called “Statutory Meeting”.

Sec.165(2)– Statutory Report

Sec.165(3)– Statutory Report shall set out:1. The total no.of shares allotted,distinguishing

shares allotted,paid-up shares.2. The total cash received.3. The receipts and payments of company.4. The names,addresses,and occupations of the

directors and of its auditors.5. Proposed modification,any contract.

Sec.165(4) The statutory report shall be certified by two

directors.One should be M.D.

Sec.165(5) Statutory report will be certified by Registrar for

registration.

Sec.165(6) The Board shall cause a list of members of the

company with name,address,occupation and shares allotted to them.

Sec.165(7) The members of the company present at the

meeting shall be at liberty to discuss any matter relating to the formation of the company.

Sec.165(8)* The meeting adjourn from time to time,and at any adjourned meeting, any resolution may be passed.

Sec.165(9)* If any default is occurred the fine is Rs.5000 will be charged.

Sec.165(10)* This section shall not be apply to a private co.

ANNUAL GENERAL MEETING(SEC.166)ANNUAL GENERAL MEETING(SEC.166)

As its name suggests,it is an annual meeting of the body of members.

Every company ,may be public or private is required to hold the Annual General Meeting.

The first AGM must be held within 18 months from the incorporation of a co.

Contd---

♦Gap between two AGMs should not be more than 15 months.

♦Power of calling the A.G.M. is defined in Company Law Board under sec.167 while in sec. 168, provision have been defined.

Contd---

PROVISIONS OF SEC.166 RELATING TO PROVISIONS OF SEC.166 RELATING TO A.G.M.:A.G.M.:

Sec.166(1)* The first AGM must be held within 18 months from the incorporation of a co.* Gap between two AGMs should not be more than 15 months.[prov.1 to sec.166(1)]* It provided further that the Registrar may,for special reason ,extend the time .[prov.2 to sec.166(1)]

Sec.166(2)* Meeting shall be called for a time during business hours,should not be a public holiday.

cont’d

PROVISIONS OF SEC.167:PROVISIONS OF SEC.167:

This provision related to the power of Company Law Board to call A.G.M.

PROVISIONS OF SEC.168: This provision is related to the Penalty for Default in

Complying with Sec.166/167.

The punishable with fine upto Rs.50000.00

And in case of continuing default,with a further fine which may extend to Rs.2500.00 every day.

EXTRA-ORDINARY GENERAL EXTRA-ORDINARY GENERAL MEETING(SEC.169)MEETING(SEC.169) All general meetings other than the annual meeting are called

Extraordinary General Meeting.

All business transacted at extraordinary meetings is called special business.

Every item on the agenda must be accompanied by an explanatory statement in terms of Sec.173.

An extraordinary general meeting can be called by the (1)Board of Directors, or (2)By the Directors on requisition, or (3)By the shareholders, or (4)By the requisition's themselves (5)By the Company Law Board.