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Meetingsofcompany 130110121836 Phpapp01 (2)

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  MeetingsofCompany: ã Meetingsofthecompanyareofthreekinds: ã 1.MeetingsofMembers ã 2.MeetingsofDirectors ã 3.Meetingsofcreditors  Meetings of Members ã  These meetings are general meetings as they areattended by all the members. ã  The management of the company is undertakenthrough meetings of the  company’s  shareholderswhere major decisions are to be taken. The meetingsare usually called by directors, but may also becalled by the shareholders. In case of default theCommission may call a meeting, either of its ownaccord or on the application of members.  Meetings of Members ã  Types of meetings of the shareholders: ã  The meetings of the shareholders are of three types:1. The Statutory Meeting2. The Annual General Meeting3. Extra Ordinary General Meeting  Meetings of Members 1. The Statutory Meeting: ã  The statutory meeting is the first meeting of themembers of the company after it commences business. It is held once in lifetime of thecompany. ã  Section 157(1) states that  “  every company limited by shares and every company limited by guaranteeand having a share capital shall , within a period of not less than three months, nor more than sixmonths, from the date at which the company isentitled to commence business, hold a generalmeeting of the members of the company, whichshall be called  ‘the  statutory  meeting’” .
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