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Company meeting

Parul (6 Points)

04 March 2020

case examples of kind of meetings

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CS Rashi Jain (Practicing Company Secretary @ RASHI JAIN & ASSOCIATES) (1295 Points)
Replied 19 March 2020

The types are: 1. Statutory Meeting 2. Annual General Meeting 3. Extraordinary General Meeting 4. Meeting of the Board of Directors 5. Class Meeting 6. Meeting of Creditors 7. Meeting of Debenture Holders 8. Meeting of Creditors and Contributories.
1. Every public company limited by shares—and every company limited by guarantee and having a share capital—must, within a period of not less than one month and not more than six months from the date at which the company is entitled to commence business, hold a general meeting of the members which is to be called the Statutory Meeting. (Sec 165)
2. There are two kinds of General Meetings:
(i) The Annual General Meeting and
(ii) Other General Meetings.(sec 166-168)
3. 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. An Extraordinary General Meeting is held for dealing with some business of special or extraordinary nature and which is outside the scope of the Annual General Meeting.
4. Meeting of the Board of Directors:
The management of the company is vested on the Board of Directors. Therefore, the Directors are to meet frequently to decide both policy and routine matters.
5. Class Meeting: These meetings are held by a particular class of shareholders for the purpose of effecting variation in the Articles in respect of their rights and privileges or for conversion of one class into another.
6. Meeting of Creditors: These meetings are called when the company proposes to make a scheme of arrangement with its creditors. The Court may order a meeting of the creditors or a class of creditors on the application of the company or of liquidator in case of a company being wound-up.
7. Meeting of Debenture Holders:
These meeting are called according to the rules and regulations of the Trust Deed or Debenture Bond. Such meetings are held from time to time where the interests of debenture holders are involved at the time of re-organisation, reconstruction, amalgamation or winding-up of the company
8. 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. The main purpose of these meetings is to obtain the approval of the creditors and contributories to the scheme of compromise or rearrangement to save the company from financial difficulties.