DD: Company Law VIII - General Meetings

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Though a company is an entity distinct from its members, it is also composed of its members. These members express the will of the company through resolutions passed at validly held meetings.
Members Meetings are of three types:

  1. Annual General Meeting (AGM): An annual event where members get an opportunity to discuss the activities of the company. S. 96: Every company other than OPC is required to hold an AGM every year.  
  2. Extraordinary General Meeting: All general meetings other than AGMs - shall be called by
    1. the board
    2. the board on requisition of shareholders 
    3. requisitionists
    4. tribunal
      All business items can be transacted at extraordinary general meetings - special business. S. 100: Provisions for holding and calling such meetings. 
  3. Class Meeting: Held by holders of a particular class of shares/ debentures/ or by creditors.
Notice of Meeting:
  • Not less than 21 days' clear notice either in writing or electronically. 
  • Short notice - if consent is given in writing or electronically by 95% of members entitled to vote.
  • Notice should contain place, day, time of meeting, the agenda, and a proxy clause with reasonable prominence - i.e. where a member entitled to attend and vote is entitled to appoint a proxy (who needn't be a member).   

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