A Company can convene meetings to discuss the performance of the company and also to take decisions.
Under the companies Act 2013, company meetings may be classified as below:
(i) Meetings of Shareholders: The meeting held for the shareholders of the company is shareholders meeting.
This may be divided as follows: .
(a) Statutory Meeting: Every public company should hold a meeting of the shareholders within 6 months but not earlier than one month from the commencement of the business.
(b) Annual General Meeting: Every year a meeting is held to transact the ordinary business of the company. It is called annual general meeting.
(c) Extra-Ordinary General Meeting: If any meeting conducted in between two annual general meetings to deal with some urgent or special or extraordinary nature of business is called as extra-ordinary general meeting.
(ii) Meeting of the Board of Directors: To decide policy matters of the company, the board of directors meet frequently, which is known as meeting of the board of directors.
(a) Board Meetings: Meetings of the directors are called board meetings. It may be convened to discuss the business and take formal decisions.
(b) Committee Meetings: Every listed company and every other public company having a capital of ?10 crore is required to have audit committee. The meeting held by this committee is known as committee meetings.
(iii) Special Meeting:
(a) Class Meeting: Meetings held by a particular class of share or debenture holders is known as Special or Class meeting, e.g. preference shareholders or debenture holders meeting. .
(b) Meetings of the Creditors: These are not meetings of a company. Meetings held with the creditors to discuss any crisis about the financial matters.
