l2.11.1(MEETINGS AND PROCEEDINGS)

Need for Meetings. A company is an artificial person and therefore, cannot act itself. It must act through some human intermediary. The various provisions of law empower shareholders to do certain things. They are specifically reserved for them to be done in company's general meetings. Section 291 empowers the Board of Directors to manage the affairs of the company. In this context meetings of shareholders and of directors becomes necessary. In this Part meetings of shareholders are taken up and later in Part 14, meetings of directors are discussed. The Act has made provisions for following different types of meetings of shareholders: (i) Statutory Meeting; (ii) Annual General Meeting; (iii) Extraordinary General Meeting; and (iv) Clas Meetings.