Company law sections related General Meetings and related aspects
A company takes its decisions through meetings. Meeting can be mainly divided into two
1. Members meeting
2. Directors meeting
Members meetings also known as general meetings. General meetings can be further divided into Annual general meeting and Extra Ordinary General meetings. Companies Act 2013, have several provisions relating to general meetings.
Members take decisions in these meetings with regard to management of the company, future course of actions, appointment of directors, appointment of auditors etc.
In this article we provide the relevant sections a professional student must look into to understand the provisions of law.
All sections are important , but most important sections are made bold.
GENEARL MEETINGS(Sections 88-122)
88. Register of members,etc.
89. Declaration in respectof beneficial interest
90. Register of significant beneficial owners
91. Power to close registerof member
92. Annual return
93. [Omitted] AMENDMENT ACT 2017
94. Place of keepingof registers, returns,etc.
95. Registers, etc., to be evidence
96. Annual generalmeeting
97. Power of Tribunal to callannual general meeting
98. Power of Tribunalto call meetings of members, etc
99. Punishment for contravention of sections 96 to 98
100. Calling of extraordinary general meeting
101. Notice of meeting
102. Statement to be annexedto notice
103. Quorum for meetings
104. Chairman of meetings
105. Proxies
106. Restriction on votingrights
107. Voting by show of hands
108. Voting throughelectronic means
109. Demand for poll
110. Postal ballot
111. Circulation of members’resolution
112. Representation of President and Governors
113. Representation of corporations at meeting
114. Ordinary and special resolutions.
115. Resolutions requiringspecial notice
116. Resolutions passed at adjourned meeting
117. Resolutions and agreements to be filed.
118. Minutes
119. Inspection of minute-books of general meeting
120. Maintenance/ inspection of documents in e-form
121. Report on annual general meeting
122. Applicability of this Chapter to OPC
DIVIDEND (Sections 123-127)
123. Declaration of dividend
124. Unpaid DividendAccount
125. Investor Education and Protection Fund
126. Right to dividend,rights shares and bonus sharesto be held in abeyance.
127. Punishment for failure to distribute dividends
AUDIT AND AUDITORS (Sections 139-148)
139. Appointment of auditors
140. Removal, resignation of auditor and giving of special notice
141. Eligibility, qualifications and disqualifications of auditors
142. Remuneration of auditors
143. Powers and duties of auditors and auditing
144. Auditor not to rendercertain services
145. Auditor to sign audit reports,etc.
146. Auditors to attendgeneral meeting
147. Punishment for contravention
148. cost audit
Important sections under each head is marked bold.
