🗓️👥 Decoding Company Meetings under Indian Company Law: An 80/20 Rule Exploration 🗓️👥 Hello #LinkedInCommunity! Today, let’s navigate through the labyrinth of #CompanyMeetings as stipulated under Indian #CompanyLaw. Here are the critical 20% of points that encapsulate around 80% of this comprehensive subject.
1️⃣ Types of Company Meetings 🗓️👥:
In essence, there are three types of meetings in a company: Annual General Meetings (AGMs), Extraordinary General Meetings (EGMs), and Board Meetings.
2️⃣ Annual General Meetings (AGMs) 📅📚:
As per Section 96 of the Companies Act, 2013, every company is required to hold an AGM every year, within six months from the end of the financial year.
3️⃣ Extraordinary General Meetings (EGMs) 📢👨💼:
When any urgent or special business can’t be postponed till the next AGM, EGMs are called as per Section 100. The Board or Members can convene these meetings.
4️⃣ Board Meetings 🏢👥:
Board Meetings are governed by Section 173. They are required to be held at least once in every quarter of a calendar year, meaning a minimum of four board meetings annually.
5️⃣ Notice of Meetings 📝⏰:
Every meeting requires a notice to be sent to the eligible members or directors, containing the agenda, day, date, time, and place of the meeting. The notice period varies based on the type of meeting.
6️⃣ Quorum 📈👥:
This is the minimum number of members necessary to conduct the meeting. As per Section 103, the quorum for a public company is 5 members personally present if the membership is up to 1000, and it varies as per the increase in the number of members.
By understanding these pivotal points, you’ll grasp the broad outline of Meetings under Indian Company Law. Happy learning, and don’t hesitate to drop your thoughts or questions below!
