Understanding Meetings as per the Companies Act, 2013
Written By
Darshana Chauhan
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AI Summary
- The Companies Act, 2013 lays down distinct legal requirements for board meetings, annual general meetings, extraordinary general meetings, and the first board meeting of a newly incorporated private company.
- Section 173(1) requires every company to hold its first board meeting within 30 days of the date of incorporation.
- Section 173(1) mandates a minimum of four board meetings in each calendar year, with the gap between two consecutive meetings not exceeding 120 days.
- Section 96 requires every company, other than a One Person Company, to hold an annual general meeting (AGM) each calendar year.
- The first AGM must be held within nine months from the close of the first financial year, and every subsequent AGM within six months from the end of the relevant financial year.
- Section 96 caps the gap between two successive AGMs at 15 months.
- Section 100 allows the board, on its own motion, or on requisition by members holding not less than one-tenth of the paid-up share capital carrying voting rights, to call an extraordinary general meeting (EGM) for business that cannot await the next AGM.
- EGMs are used to place before shareholders matters requiring approval outside the ordinary business of an AGM, such as special resolutions.
- Section 101 requires at least 21 days' clear notice for general meetings, while Section 173(3) requires at least seven days' notice for board meetings, subject to statutory exceptions for shorter notice.
Our latest document provides comprehensive insights into the various types of meetings mandated by the Act, including the crucial first board meeting for private companies.
Key topics covered include:
1. Board Meetings
2. Annual General Meetings (AGM)
3. Extraordinary General Meetings (EGM)
4. First Board Meeting for Private Companies
About the Author
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Link copied to clipboard!https://treelife.in/compliance/understanding-meetings-as-per-the-companies-act-2013/
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Darshana Chauhan
Principal Associate | Compliance | darshana@treelife.in
Manages compliance for acquisitions, fundraising, and due diligence with meticulous execution. Ensures adherence to the Companies Act and FEMA while delivering seamless regulatory solutions.
We Are Problem Solvers. And Take Accountability.
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