Introduction

 Companies act 1956 came into force on 1st April, 1956.

Central government is the supreme authority responsible
for the administration of Companies act 1956.
 A company in broad sense may mean an association of
individuals formed for some common purpose.
 Section 3(1) (i) of the Companies Act, 1956 states that a
company means “a company formed and registered under
this Act, or an existing company”.
 According to A.A.Barley, “ A company is a combined
political, social, economic and legal institution”.
 Meaning of Meeting

 The word “meetings” in context of company means a

gathering or assembly of directors or shareholders or
of both for taking decisions on the agenda before
them.
 Basically, these people has been convened for the
purpose of achieving a common goal through verbal
interaction, such as sharing information or reaching
agreement.
 Meetings may held face to face or virtually, as
mediated by communication technologies such as a
telephone conference call or a video conferences.
 Why to have Meetings ??

 To solve the problems

 To make decisions
 To develop various plans
 To gather or convey information
 To get a response to information
 To obtain approval
 To clarify responsibilities
 To create a sense of teamwork
 Statutory Meeting (Sec 165 of Companies Act
1956 )

 Every public company limited by shares or limited by

guarantee & having share capital must hold a general
meeting of its members, to be called statutory meeting.
 It is the first meeting of the members of the company
after its incorporation.
 Objective of Statutory Meeting –
 To give information to the members regarding issues related with the
promotion & formation of the company
 To make, clear the doubts & confusion, if any in the minds of the
members
 To discuss the issues regarding success of the flotation of the
company
 To take consent of the members regarding any modification in the
terms of the contracts specified in the prospectus
 Board Meeting [Section 173 to 176]

 The affairs of a company are managed by the Board of

Directors. So it is necessary that the directors should
often meet to discuss various matters regarding the
management & administration of the affairs of the
company in the best interest of the shareholders & the
public.
 Essentials of a Valid Meeting
1. Frequency of Board Meeting
2. Notice of Board meeting
3. Quorum of a Board Meeting
4. Chairman of a Board Meeting
5. Agenda of a Board Meeting