2. Company Law
It is an association of persons united for common object. Thus the purpose
may be economic or non-economic, but in common parlance, the word
company is used strictly to imply those associations, reserved for economic
purposes i.e. to carry the business for gain.
3. Meetings
Meeting implies the coming together of a certain number of members for
transacting the business in the agenda, for which a previous notice has
been given. In meeting there must be two or more persons are involved.
Generally the purpose of a meeting is to consider issues of common
interest to its attendants.
5. Valid meetings
Any regularities in the procedure followed for convincing and conducting a meeting will invalidate the
proceedings of that meeting.
Requirements :-
1). The meeting must be 1).A quorum must be present
duly convened by a proper
authority.
2). A proper notice must be 2). A chairman must preside.
served in the prescribed manner 3). Minutes of the proceeding of the meetings
to all the persons entitled to receive of the meetings shall be kept.
the notice.
Meeting
Properly
convened
Legally
constituted
6. Requisites of a valid meeting
1. Proper Authority
* Board of directors
a). Members
b). Central Government[sec 167]
c). National Company Law Tribunal [sec186]
2). Notice
a). Length of notice
b). Notice Period when served by post
c). Notice Period when served by hand
7. Notice to whom
a). Every member of the company at his registered address in India.
b). The auditor of the company [sec. 172] .
3). The public trusty [sec. 187B (1)].
8. Content of Notice
A). Place of meeting.
1). At Registered office of the company
2). At some place within the same city, town or village in which the
registered office of the company is situated.
B). Day of the meeting
on any day that is nota public holyday.
C). Time of the meeting
in business hours of the company.
9. D). Type of the business
1). Ordinary Business
2). Special Business
3). Proper Quorum
“Quorum” means the minimum number of members who must be present in order to constitute a valid meeting
and to valid transact business at the meetings. If the quorum is not present, the meeting shall not be valid.
5 members personally 2 members personally
present(excluding proxies) present(excluding proxies)
10. 4). Chairman of the meeting
• Appointment of the chairman
• Regulation 50
• Regulation 51
• Regulation 52
• Election of chairman
11. Powers of chairman
1). Power to decide priority of speakers
2). Power to stop discussion
3). Power to declare results in voting
4).Power to get Chairman speech published
5). To give ruling on point of order
12. 5).Proxies
The word “proxy” means…….
A person appointed to represent another and vote at meeting on behalf of another……
1.) APPOINTMENT OF PROXY AND HIS RIGHTS
section 176 authorises every member to appoint another person as a
’proxy’ to attend and vote instead if himself.
2). REQUIREMENTS AS TO INSTRUMENT OF PROXY
3). PROXY MUST BE DEPORSITED WITHIN 48 HOURS
13. Rights of proxy :-
1). A proxy can vote only a poll.
2). A proxy can use his votes differently.
DISABILITIES OF PROXY
1). A proxy has no right to speak at meeting.
2). Do not take part in discussion.
15. 7). Resolution
Decision of the company are made by resolutions of its members, passed at
meeting of members.
16. 8). Minutes of the meeting
means official records of the meetings of a company.
a). every general meeting
b). every meeting of board of directors
3). every meeting of committee of board of directors
1). Signing of minutes
2). Minutes not be attached by pasting
