MINUTES OF MEETINGS

Minutes of meetings are mandatory to be maintained by the Company. Get our consultation to know about minutes and avoid non compliances penalties.

APPLY NOW FOR CONSULTATION

MEANING OF MINUTES OF MEETINGS

The minutes of the meeting refers to a short summarized report of proceedings of the meeting of the company held in a correct and fair manner. Minutes of meetings is prepared by the company secretary of the company . Minutes is mandatorily required to be prepared for every meetings of the company.
It contains the details of the meetings such as :-
Attendance in the meeting
Resolution proposed in the meeting
Resolution passed in the meeting
Voting held in the meeting
Taking extracts and note of reports and financial statement of the company, etc.

DOCUMENTS REQUIRED FOR MINUTES

Resolutions of Meetings

Copy of all the resolutions passed in the meeting.

Attendance Sheet

Attendance Sheet of attendees of the meeting and there signature.

Details of Chairperson

Details of chairperson who chair the meeting.

TYPES OF MEETINGS IN THE COMPANY

Board meeting :- Every company is required to convene the meeting of its directors minimum 4 times in a financial year.
Annual general meeting :- Every company is required to convene the meeting of its shareholders once in a financial year to decide the overall progress and plan future courses of action.
Extraordinary general meeting :- It is shareholder meeting which is called by a company other than its scheduled annual meeting. It is scheduled to deal with urgent matters that come up between annual general meetings.
Class meeting :- Class meetings refers to the meetings held by the holders of a particular class of shareholders.
Meeting of creditors :- Meeting of refers to a meeting setup by the company of creditors in certain cases such as to negotiate with the creditors in case of winding up or arrangements and also to lay down the process.
Meeting convened by court :- It refers to the shareholders meeting convened by court on the request of shareholders.
Meeting of debenture holder :- Meeting of refers to a meeting setup by the company of debenture-holders in certain cases.

TIME LIMIT FOR RECORDING THE MINUTES OF THE MEETINGS

The minutes of the meeting are recorded in the Minutes book. Such minutes must be entered in the minute book within 30 days from the date of conclusion of the meeting. Each and every page of Minutes book must be properly initialed and last page of the minutes must be signed and dated by the chairman of the meeting or by any authorized director, (if so authorised specified).
PRESERVATION

PROCESS OF ENTERING MINUTES

NOTE TAKING IN THE MEETING

Take proper notes of proceedings of the meeting during meeting of the company.

PREPARING DRAFT OF MINUTES

Preparation of the draft minutes of the meeting after the conclusion of meeting.

FINALIZATION OF MINUTES

This draft minutes must be sent to the directors or chairman of the meeting for inclusion of their information and comments. Finalization of minutes of the meeting after consultation with chairman/ Managing Director. After finalizing the minutes it should enter in the Minutes book within 30 days of conclusion of meeting.

NUMBERING AND SIGNING OF MINUTES

All the Pages of Minutes book must be consecutively numbered, properly initialed and last page of the minutes must be signed and dated by the chairman of the meeting or by any authorized director, (if so authorised specified).

Frequently Asked Questions

What are the types of meeting of the company?

• Annual general meeting.
• Extra ordinary general meeting.
• Board meeting.
• Meeting of creditors.
• Class meeting.
• Meeting of debenture holder.
• Meeting convened by court.

Who is required to sign the minutes of the minute after finalization?

The chairperson of the meeting shall sign the each page of the minutes of the meeting.

Within what time period minutes of the meeting are required to be entered in the minute book?

Minutes must be entered in the minute book within 30 days from the date of conclusion of the meeting.

Where do the minutes books of the meeting are required to be preserved?

Minutes books of the meeting are required to be preserved as follows:-
• Minutes book of general meeting- registered office of the company.
• Minutes book of board meeting- registered office of the company or any other place as may decide.
• Minutes Book of the company- In the custody of CS of the company or any of the authorized director(if any).

Do the applicant requires to present physically for minutes making?

No, You are not required to be physically present for the minutes making process.