by According to the Companies Act, 2013, a meeting refers to a formal gathering of members, directors, or shareholders of a company, held to discuss, deliberate, and make decisions on specific matters related to the business of the company. The meeting must follow proper procedures, including notice, quorum, agenda, and other requisites to be legally valid. Meetings can include Board meetings, General meetings, Annual General Meetings (AGM), Extraordinary General Meetings (EGM), and committee meetings, each with distinct purposes and legal requirements.
Requisites of a Valid Meeting:
- Notice:
A formal communication informing members about the date, time, venue, and agenda of the meeting. It must be issued within a legally prescribed time period to ensure all participants have adequate time to attend and prepare for the meeting.
- Agenda:
A structured list of topics to be discussed or acted upon during the meeting. The agenda outlines the order of business and ensures that participants stay on track and focus on the specific issues raised.
- Chairman:
The person responsible for presiding over the meeting, ensuring that it runs smoothly and orderly. The Chairman facilitates discussions, maintains order, and ensures that decisions are made according to the agenda and rules of procedure.
- Quorum:
The minimum number of members required to be present for a meeting to be considered legally valid. If the quorum is not met, the meeting cannot proceed, and decisions made are deemed invalid.
- Proxy:
A representative appointed by a member to attend, speak, and vote on their behalf at a meeting. Proxies are used when members cannot attend in person but want their voice and vote to be counted.
- Resolutions:
Formal decisions or expressions of the will of the meeting, passed by a majority of votes. Resolutions can be ordinary (requiring a simple majority) or special (requiring a higher majority as per law).
- Minutes:
An official record of the proceedings, discussions, and decisions made during a meeting. Minutes must be accurately documented, signed, and stored to serve as a legal reference of the meeting’s outcomes.
- Postal Ballot:
A method of voting where members cast their votes by mail, instead of attending the meeting in person. It allows members to participate in decision-making when they are unable to attend the meeting.
- E-voting:
A digital platform that allows members to vote electronically on resolutions proposed at a meeting. E-voting provides a convenient way for members to participate in decision-making, especially in large or geographically dispersed companies.
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Video Conferencing:
A virtual method of holding meetings where participants join remotely through video technology. It allows members to engage in real-time discussions without being physically present, ensuring inclusivity and flexibility in participation.
