One of the statutory requirements under the Companies Act is to conduct meetings.
Board Meetings : Every company shall hold the first meeting of the Board of Directors within thirty days of the date of its incorporation and after that hold a minimum number of four meetings of its Board of Directors every year in such a manner that the gap between two consecutive Board meeting should not be more than 120 days. Directors are allowed to participate in person, through video conferencing or other audio-visual means capable of recording and recognizing the participation of the directors and recording and storing the proceedings along with the date and time.
Committee Meetings : The Board may delegate any of its powers to committees if authorized and in accordance with its Articles of Association, and such committees must conform to any regulations that may be imposed upon it by the Board.
Annual General Meeting (AGM)7 : The Companies Act, 2013 states that every company must hold one AGM in each calendar year and not more than fifteen months shall elapse between the date of one AGM of a company and that of the next.
In case of the first AGM, it shall be held within a period of nine months from the date of closing of the first financial year of the company and in any other case, within a period of six months, from the date of closing of the financial year. Furthermore, a One Person Company is not required to hold an AGM.
Extraordinary General Meeting8 : Any general meeting held between two AGMs is called an Extraordinary General Meeting. Business arising between two AGMs that is urgent and cannot be deferred until the next AGM is transacted at an Extraordinary General Meeting.
Class Meetings : These are meetings of shareholders holding a particular class of shares. Resolutions passed at such meetings bind only the members of the concerned class.