Several types of meetings take place in the business organizations based on company requirements on the situation and type of organization.
The different types of meetings are:
After registration of the company, the company is bound to invite the first general meeting within a year or eighteen months. Then the general meeting will be held every year. The differences of the two general meetings cannot be more than fifteen months. The decisions of the meeting are called general decisions.
When Company is run by various shareholders. When the meeting is held with the shareholders of the company it is called a shareholders meeting.
According to company laws, after getting the letter of commence, the company arranges a meeting after one month of six months. This is the first general meeting of the company and during the life of the company this type of meeting held once. The company gives the circular before 21 days of the meeting. The decisions of the meeting are called statutory decisions.
If necessary of the company this type of meeting can be held at any time. The director or some shareholders can invite this meeting one-tenth of the shareholders may give the requisition to the Board of directors to arrange this type of meeting. After getting the requisition of the board of Directors fails to arrange a meeting within twenty-one days, the shareholder can invite the meeting within three months. The decision taken by the meeting is called a special decision.
Class meetings are meetings that are held by holders of a particular class of shares, e.g., preference shareholders. Such meetings are normally called when it is proposed to vary the rights of that particular class of shares. At such meetings, these members discuss the pros and cons of the proposal and vote accordingly. (See provisions on variations of shareholder’s rights). Class meetings are held to pass resolutions which will bind only the members of the class concerned, and only members of that class can attend and vote.