Meetings of the Company

According to the Companies Act, 2017, there are three kinds of meetings which are held by a
company. These meetings are:
(1) Statutory Meeting
(2) Annual General Meeting
(3)Extra-ordinary General Meeting.
Statutory Meeting (Section 157)
Statutory meeting is the first meeting of the members of a public limited company. It is held
only once in the life of a public company. It can be convened by the directors of the company
only.
By whom and when held:
The statutory meeting is held by
(a) every public limited company limited by shares
(b) every company limited by guarantee
(c) every private company converted into a public company.
How the meeting is convened?
It is provided in Section 131(2) of the Companies Act that the directors shall send a notice of
Statutory Meeting at least 21 days before the day of the meeting to all the shareholders of the
company. The directors shall also send the Statutory Report duly certified by not less than three
directors, one of whom shall be the Chief Executive of the company.
Privileges of the Members
The members of the company present at the meeting shall be at liberty to discuss any matter
relating to the formation of the company or arising out of the statutory report.
Annual General Meeting (Section 158).
According to the Companies Act, every company, without exception, shall hold a general
meeting of its members every year. This annual general meeting is to be convened and held by
the directors of the company. The members have no authority to convene the annual general
meeting of the company.
Notice of Meeting
The notice of the annual general meeting shall be sent to the shareholders atleast 21 days
before the date fixed for the meeting.
Place of Meeting
The annual general meeting, shall in the case of a listed company, be held in the town in which
the registered office of the company is situated.
Business to be conducted
The annual general meeting is mainly held for doing the ordinary business. However, if the
articles permit any special business may also the conducted at the annual general meeting by
giving its notice along with the notice of the annual general meeting to the members.
(1) Consideration and adoption of the audited annual accounts of the company.
(2) Declaration of the dividends.
(3) The election of the directors.
(4) Appointment of directors.
Winding up
According to Companies Act 301(c) a company may be wound up by the
Court if it does not hold two consecutive annual general meetings.
Extra-Ordinary General Meeting (Section 159)
All general meetings of a company other than annual general meeting and the statutory
meeting shall be called extra-ordinary general meeting.
Ways of calling extra-ordinary meeting
1. The directors may at any time call an extra-ordinary general meeting to consider any matter
which they think is necessary.
2 The directors may call the meeting on the requisition of the shareholders representing not
less than one tenth of the voting powers.
3. The requisitions may themselves call the meeting, if the directors do not proceed within 21
days of calling the meeting. In such a situation the meeting must be held within 3 months from
the date of the deposit of requisition.
Purpose
The extra-ordinary general meeting is called only:
1. When some special business is to be conducted.
2. The business as per articles can not be transacted at the annual general meeting.