Secretarial Practice · Ch 7 — Company Meetings – I
Classification of Company Meetings
Classification of Company Meetings
Company meetings are not all of one kind — the Companies Act, 2013 recognises several distinct categories, each with its own purpose, participants and legal requirements. Broadly, company meetings fall into three groups.
| Broad category | Who meets | Examples |
|---|---|---|
| Meetings of Members (Shareholders) | The company's shareholders | Annual General Meeting, Extraordinary General Meeting, Class Meetings |
| Meetings of the Board and Committees | Directors | Board Meetings, Committee Meetings (covered in Company Meetings – II) |
| Other Statutory Meetings | Members, creditors, or other stakeholders as required by specific provisions | Meetings ordered by the Tribunal, creditors' meetings in schemes of compromise/arrangement (covered in Company Meetings – II) |
This chapter, Company Meetings – I, is confined to the first category — meetings of members — since these are the meetings at which shareholders, as the owners of the company, exercise direct control over major company decisions. Within meetings of members, the Companies Act, 2013 further distinguishes:
Annual General Meeting (AGM)
A meeting that every company (other than a One Person Company) must hold once in every calendar year, without fail, to transact certain routine (ordinary) business along with any special business the company wishes to place before members. It is dealt with under Section 96 of the Act and is covered in detail in the next section of this chapter.
Extraordinary General Meeting (EGM)
Any general meeting of members other than an AGM, called to transact urgent or special business that cannot reasonably wait until the next AGM. It is dealt with under Section 100 of the Act.
Class Meetings …
The general meeting that every company (other than a One Person Company) must hold once every calendar year under Section 96 of the Companies Act, 2013, to transact the company's routine annual busin …
A meeting attended only by the members of one particular class of shares (e.g., preference shareholders), called to consider a matter — typically a variation of rights — that …