Question

Essay Type Question:
State and explain the different types of General Meetings of Company.

Answer 1

Types of meetings :

1. Statutory meeting: The directors are required to prepare and send a report called the ‘Statutory Report’ to every member of the company at least 21 days before the date of the meeting. If the report is sent later it shall be deemed to have been duly forwarded if it is so agreed to by a unanimous vote of the members entitled to attend and vote at the meeting [Sec. 165 (2)]. A copy of this report should be sent to the Registrar.
2. Annual general meeting: It is a meeting of shareholders which is held once in a year. The object of holding this meeting is to review the progress and prospects of the company and elect its office-bearers for the coming year.
3. Extraordinary meeting: Extraordinary meeting is a general meeting which is held between two Annual General Meetings. Extraordinary General Meeting is Called to discuss any particular matter of urgent importance to the company. This meeting is called for the consideration of any specific subject, a decision of which cannot be postponed to the next Annual General Meeting.
4. Class meeting: When the meeting of a particular class of shareholders takes place such as a preference shareholder meeting, it is known as a class meeting. Such a meeting can be attended only by that class of shareholders. The articles define the procedure for calling such meetings. Such a meeting is called for the alteration in the rights and privileges of the shareholders and for the purpose of conversion of one class of shares into another.