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pooja

pooja (Querist)
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27 April 2011 What Is The Definition Of Ordinary Business & Special Business????

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 April 2011 As per Section 173(1)(a) of the Companies Act,1956,there are four ordinary business. In an AGM only these four businesses are ordinary business rest are special businesses. In case of any other general meeting all business are special business.
The said ordinary busineses are:-
(i) the consideration of the accounts, balance sheet and the reports of the Board of directors and auditors,
(ii) the declaration of a dividend,
(iii) the appointment of directors in the place of those retiring, and
(iv) the appointment of, and the fixing of the remuneration of, the auditors.