A company is a legal entity. All the matters of the company have to be decided by the members of the company. The discussions which takes place in order to decide the matters of the company as known as meeting of the company. The Companies Act, 2013 made meeting compliances to be followed. The meetings of the company for deciding on ordinary business and special business or extraordinary business takes place by following separate procedures and rules. The meetings may take place at different levels of the company to decide on matters which lie before the company. Shareholders as owners of the company have a right to convene a meeting to pass a resolution. The chairperson of the meeting precedes the meetings. A mandatory quorum is needed for the convention of a meeting. The discussions which take place in order to decide on the matters of the company are known as meetings of the company. The Companies Act contains many provisions in relation to the meetings of the company. In the case of Sharp vs. Dawes (1971), the meeting is defined as “An assembly of people for a lawful purpose” or “the coming together of at least two persons for any lawful purpose.”

Section 96 Annual General Meeting

• Annual general meeting (AGM) is an important annual event where members get an opportunity to discuss the activities of the company. Section 96 provides that every company, other than a one person company is required to hold an annual general meeting every year.
• Annual general meeting should be held once every year. First annual general meeting of the company should be held within 9 months from the closing of the first financial year. Hence it shall not be necessary for the company to hold any annual general meeting in the year of its incorporation.
• Subsequent annual general meeting of the company should be held within 6 months from the closing of the financial year. The gap between two annual general meetings should not exceed 15 months.
• According to Section 166 of the Companies Act, the first meeting after incorporation of the company must be held within 18 months. In case, it is not possible for a company to hold an annual general meeting within the prescribed time, the Registrar may, for any special reason, extend the time within which any annual general meeting shall be held. Such extension can be for a period not exceeding 3 months. No such extension of time can be granted by the Registrar for the holding of the first annual general meeting.

Section 98 by Tribunal

• Section 98 provides that if for any reason it is impracticable to call a meeting of a company or to hold or conduct the meeting of the company, the Tribunal may, either suo motu or on the application of any director or member of the company who would be entitled to vote at the meeting.
• Order a meeting of the company to be called, held and conducted in such manner as the Tribunal thinks fit and give such ancillary or consequential directions as the Tribunal thinks expedient, including directions modifying or supplementing in relation to the calling, holding and conducting of the meeting, the operation of the provisions of this Act or articles of the company.
• Such directions may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting. Meeting held pursuant to such order shall be deemed to be a meeting of the company duly called, held and conducted.

Section 100 Extraordinary General Meeting

• All general meetings other than annual general meetings are called extraordinary general meetings. All businesses items can be transacted at the extraordinary general meetings are special business.
• Section 100(1) the board may whenever it deems fit call an extraordinary general meeting of the company.
• Section 100 (2) by Board on Requisition.

Section 186 of the Companies Act

Company Law Board has the power to call an extraordinary general meeting but not an annual general meeting. Shareholders of the company are empowered to convene a meeting within 3 months if it is not convened within 21 days of requisition by the Company Law Board.

Section 177 of the Companies Act, 2013 deals with the Audit Committee.

• It is desirable for the Audit Committee to meet at least 4 times a year. The meetings are preceded by the chairman.

Every company shall hold the first meeting of the Board of Directors within 30 days of the date of company incorporation. A minimum number of 4 meetings of its Board of Directors shall be held every year in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board. It is observed that the Central Government may by notification direct that the provisions of this subsection shall not apply to any class or description of companies. The provisions related to a minimum number of Board meetings apply to a company licensed under section 8 company only to the extent that the Board of Directors of such Companies shall hold at least 1 meeting within every 6 calendar months.