THE MEETINGS OF THE COMPANY. — SPCC STD 12 Commerce — Question

Introduction: - When any company takes meetings, it is very important for members to attend that meeting. Through which decisions are taken, discussion and discussion are made. This is necessary for the number of meetings that can be described as follows:

• Meaning: - "The presence of at least some members is necessary for the company's meeting, so that the functioning of the meeting can be considered legally. It is known as quorum. "
• Who can be considered as quorum? However, in the modern era due to advanced technology of computer, internet, the presence of the directors through the video conference or audio visual media is considered as their physical presence and treated as completion of the required.
• Importance: In every meeting, the presence of minimum members required is mandatory, falling which the meeting is not considered as legally held and the meeting should be adjourned immediately.
• (i) For a Public Limited Company : If the number of the shareholders does not exceed 1000 then the presence of 5 members will be considered as quorum. If the number of shareholder is between 1001 to 5000, then the presence of 15 members will be considered as quorum. If the number of shareholders exceeds 5001 then the presence of 30 members will be considered as quorum.
• (ii) For a Private Limited Company: The presence of two members will be considered as quorum
• (iii) If an adjourned meeting is reconvened and the required quorum is not reached even after 30 minutes of the time specified in the notice, then present members can be considered as quorum and the meeting can be conducted with the approval of the Board of Directors.
• (iv)The above provisions are not applicable to the company headed by only one person.
• Conclusion: -Though, the number of meetings involved in the above mentioned matters. It is very necessary for the organization of the work to be legal and systematic. The working of the meeting can be considered as valid as mentioned above.