Hi, kids, we start with a new chapter, Company Meetings Part 1. Right, kids, let’s see this.

Let’s check the first module, define meeting, explain the need for meeting. Now the term for meeting is derived from the Latin word ‘Maeta’ means face to face. Now according to the Webster’s Dictionary meeting is an act of coming together to discuss any particular matter. The above definition indicates the following points. Minimum two persons are necessary to conduct a meeting, right, so it can be more than two. Time and place is predetermined, decided in advance. Meetings are held to discuss matters of common interest. These matters should be acceptable from legal point of view.

Now let’s take an example. Here we have a farmer working on his farm and earning a sufficient amount annually. A friend of the farmer advises him to invest in shares and stocks. One day a letter given to the farmer for a company meeting, right. A farmer is shocked with the letter. His friend that it’s company meeting letter. The farmer went to the meeting and surprised to see what happened because he don’t anything about it, right. So he was totally surprised. The farmer went to the company secretary to get all the necessary information regarding the meeting. Now what is company meeting, he is explaining, right, kids, so let’s see.

A company meeting is commonly defined as an assembly or gathering of shareholders connected with the company who want to discuss and decide the matters related to it, right, kids, please understand it is a gathering of shareholders and connected with the same company want to discuss something about the matters related to the company. From the point of view of the company, meeting is an official gathering of shareholders, directors and creditors of the company. Company meetings take place when shareholders and directors come together as per the notice and conduct business as per agenda, right, kids.

Need of meeting, to determine the policies and the programs. Future of the company, to prepare future plans. To provide opportunities to members to come together, right, they meet each other. To solve certain problems faced by the organisation. To take action against members in default. To declare dividends. What is dividend, share of profits of the company. To appoint directors and auditors, to review the progress made by the company. To know about the progress made by the company you have to attend the meeting. To comply with the statutory requirements, statutory, legal, comply, follow or fulfil. To study and give approval to all annual reports, right, statement of accounts, auditors’ reports and other reports.

Right, kids, first module was simple and clear to understand.