“Meeting may be defined as gathering or assembling or getting together of a number of persons for transacting any lawful business.” · There must be at least two persons to constitute a meeting. · The business of the meeting is conducted in the form of resolutions proposed or passed. Types of Company Meetings Broadly, meetings in a company are of the following types: A. Statutory Meeting: A public company limited by shares or a guarantee company having share capital is required to hold a statutory meeting. Such a statutory meeting is held only once in the lifetime of the company. Such a meeting must be held within a period of not less than one month or within a period not more than six months from the date on which it is entitled to commence business i.e. it obtains certificate of commencement of business. In a statutory meeting, the following matters only can be discusse...
SHARE CAPITAL The term ‘share capital' refers to the amount of capital raised (or to be raised) by a company through the issue of shares. Features of share capital The main features of share capitals are 1. Share capital can be raised only by companies limited by shares and registered with share capital 2. Share capital can be raised by a company either at the time of its formation for starting its operations or later on for further expansion. 3. Share capitals (except in the case of redeemable preference share), one raised, cannot be returned by the company to the shareholders as long as it continues to exist, It can be returned only at time of the winding up of the company. Types or Kinds of Share Capital: The various kinds or sub-divisions of share capital are: 1. Authorised Capital, Registered Capital or Nominal Capital: Authoris...