CLAT PG Exam > CLAT PG Notes > Company Law > Introduction to Company Meetings
Introduction to Company Meetings | Company Law - CLAT PG PDF Download
| Table of contents |
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| Members' Meetings |
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| Directors' Meetings |
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| Other Meetings |
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| Changes in the Companies Act, 2013 |
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Members' Meetings
- Annual General Meeting (AGM): A mandatory meeting that every company must hold annually.
- Extraordinary General Meetings (EGMs): Additional meetings that can be held beyond the AGM.
Directors' Meetings
- Board Meetings: Meetings held by the board of directors.
- Committee Meetings: Meetings held by specific committees formed by the board.
Question for Introduction to Company MeetingsTry yourself: What is an Annual General Meeting (AGM)?View Solution
Other Meetings
- Creditors Meetings: Meetings involving the company's creditors.
- Class Meetings: Meetings involving specific classes of shareholders.
Changes in the Companies Act, 2013
- The Companies Act, 2013 aims to improve transparency,shareholders' democracy, and investor protection.
- It has removed the requirement for a statutory meeting of members at the start of a public company's business, which was present in the previous Companies Act.
- The Act has introduced new concepts like video-conferencing and e-voting for conducting meetings.
The document Introduction to Company Meetings | Company Law - CLAT PG is a part of the CLAT PG Course Company Law.
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FAQs on Introduction to Company Meetings - Company Law - CLAT PG
| 1. What are the different types of company meetings under the Companies Act, 2013? |  |
Ans. Under the Companies Act, 2013, there are primarily three types of meetings: Members' Meetings, Directors' Meetings, and Other Meetings. Members' Meetings involve shareholders and can be annual general meetings (AGMs) or extraordinary general meetings (EGMs). Directors' Meetings are convened by the board of directors to discuss company affairs. Other Meetings can include committee meetings or any other gatherings necessary for company operations.
| 2. What is the significance of conducting Members' Meetings? | |
Ans. Members' Meetings are crucial as they provide a platform for shareholders to discuss and make decisions on important matters affecting the company, such as approving financial statements, electing directors, and declaring dividends. These meetings ensure transparency and accountability in the management of the company.
| 3. How often should Directors' Meetings be held according to the Companies Act, 2013? | |
Ans. The Companies Act, 2013 mandates that the board of directors must meet at least four times a year, with a maximum interval of 120 days between two consecutive meetings. This requirement ensures that the board remains actively involved in the company's management and decision-making processes.
| 4. What are the procedural requirements for conducting a valid Members' Meeting? | |
Ans. To conduct a valid Members' Meeting, the company must provide adequate notice to all members, outlining the agenda and time of the meeting. A quorum must be present for the meeting to proceed, and minutes of the meeting must be recorded and maintained. Compliance with these procedures ensures the legality and legitimacy of the meeting's decisions.
| 5. What changes were introduced in the Companies Act, 2013 regarding meetings? | |
Ans. The Companies Act, 2013 introduced several changes, including provisions for conducting meetings through electronic means, thereby enhancing accessibility for members. It also streamlined the processes for calling and conducting meetings, including stricter guidelines on notice periods and the maintenance of minutes, to improve corporate governance and transparency.
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Dec 25, 2024 Last updated |
Document Description: Introduction to Company Meetings for CLAT PG 2024 is part of Company Law preparation.
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