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Which type of meeting is not required for private companies?
- a)Annual General Meeting
- b)Statutory Meeting
- c)Extraordinary General Meeting
- d)Class Meeting
Correct answer is option 'B'. Can you explain this answer?
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Which type of meeting is not required for private companies?a)Annual G...
Private companies are not required to hold a statutory meeting. However, they are required to hold annual general meetings and other general meetings as per the Companies Act.
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Which type of meeting is not required for private companies?a)Annual G...
Statutory Meeting not required for private companies
Private companies are not required to hold a Statutory Meeting according to company law in many jurisdictions. Here is an explanation of why this meeting is not required for private companies:
Annual General Meeting (AGM)
- An Annual General Meeting is a mandatory meeting that all companies, whether private or public, must hold each year. It is an opportunity for shareholders to discuss the company's performance, finances, and future plans.
Extraordinary General Meeting (EGM)
- An Extraordinary General Meeting is called to discuss important matters that cannot wait until the next AGM. This meeting is typically held to address urgent issues such as changes to the company's articles of association or significant business decisions.
Class Meeting
- A Class Meeting is a meeting of a specific class of shareholders, such as preference shareholders, to discuss matters that only affect that particular class. These meetings are important for ensuring that the rights and interests of all shareholders are protected.
Statutory Meeting
- A Statutory Meeting is a meeting required for public companies within a certain period after incorporation. It is intended to provide shareholders with information about the company's formation and financial status. However, private companies are not required to hold this meeting.
In summary, while private companies must hold AGMs, EGMs, and Class Meetings, they are not required to hold Statutory Meetings. This distinction reflects the difference in regulatory requirements between private and public companies.
Private companies are not required to hold a Statutory Meeting according to company law in many jurisdictions. Here is an explanation of why this meeting is not required for private companies:
Annual General Meeting (AGM)
- An Annual General Meeting is a mandatory meeting that all companies, whether private or public, must hold each year. It is an opportunity for shareholders to discuss the company's performance, finances, and future plans.
Extraordinary General Meeting (EGM)
- An Extraordinary General Meeting is called to discuss important matters that cannot wait until the next AGM. This meeting is typically held to address urgent issues such as changes to the company's articles of association or significant business decisions.
Class Meeting
- A Class Meeting is a meeting of a specific class of shareholders, such as preference shareholders, to discuss matters that only affect that particular class. These meetings are important for ensuring that the rights and interests of all shareholders are protected.
Statutory Meeting
- A Statutory Meeting is a meeting required for public companies within a certain period after incorporation. It is intended to provide shareholders with information about the company's formation and financial status. However, private companies are not required to hold this meeting.
In summary, while private companies must hold AGMs, EGMs, and Class Meetings, they are not required to hold Statutory Meetings. This distinction reflects the difference in regulatory requirements between private and public companies.
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Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer?
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Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer?.
Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which type of meeting is not required for private companies?a)Annual General Meetingb)Statutory Meetingc)Extraordinary General Meetingd)Class MeetingCorrect answer is option 'B'. Can you explain this answer?.
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