1. Board Meeting

 Governed by: Companies Act, 2013 & Secretarial Standards (SS-1)

Requirements

• First Board Meeting → Within 30 days of incorporation.

• Minimum Meetings:

  • Private Limited: 4 meetings/year (max gap 120 days between 2).

  • Small Companies / OPC: 2 meetings/year (one in each half-year, gap at least 90 days).

• Notice: Minimum 7 days notice in writing to every director.

• Quorum: 1/3rd of total strength or 2 directors (whichever is higher).

Matters usually discussed

• Approval of financial statements.

• Appointment of auditors, CS, KMP.

• Issue/transfer of shares.

• Borrowings & investments.

• Statutory compliance approvals.

2. Shareholder (General) Meeting

 Governed by: Companies Act, 2013 & Secretarial Standards (SS-2)

Types of Meetings

1. Annual General Meeting (AGM) – Mandatory for Public Companies.

   • Private companies usually not required to hold AGMs (unless Articles specify).

   • First AGM: within 9 months of first FY.

   • Subsequent AGMs: once every year (within 6 months of FY end, max gap 15 months).

2. Extraordinary General Meeting (EGM) – Held for urgent matters like:

   • Alteration of Articles/MOA.

   • Appointment/removal of directors/auditors.

   • Approving mergers, buyback, capital changes.

Requirements

• Notice: 21 clear days before meeting.

• Quorum (Private Limited): 2 members (unless Articles specify otherwise).

• Resolutions:

  • Ordinary Resolution → Passed by simple majority (>50%).

  • Special Resolution → Passed with at least 75% votes.