A company is considered as a legal entity separate from its members in the eyes of law. All the affairs of the company are practically carried out by the board of directors. The board of directors of a company carries out these affairs within the limitations of their powers, as invoked by the articles of association of the company. The directors also exercise certain powers of their own with the consent of other members of the company.
The consent of the other members is ensured at the general meetings held by the company. Any mistakes committed by the board are rectified by the shareholders (who are also considered as owners of the company) at the meetings of the company.
● The shareholders’ meetings are conducted for the shareholders to give their verdict on the decisions and steps taken by the board of directors.
● Meetings are a crucial part of the management of a company as mentioned in the Companies Act, 1956.
● Meetings enable the shareholders to know the ongoing proceedings of the company and allow the shareholders to deliberate on certain issues.
● There are various types of meetings held by a company.
● Various criteria must be fulfilled for the calling, convening and conduct of the meetings.