Lec 3.3.4

INSTITUTE: University
School of Business
DEPARTMENT: BBA
Bachelor of Business Administration
Subject Name: Commercial & Company Law
Code: 22BAT-262
DISCOVER . LEARN .
EMPOWER
Commercial and Company Law
https://www.google.com/search?q=commercial+%26+Company+law&source=ln
ms&tbm=isch&sa=X&ved=2ahUKEwjNkZeg4pzpAhUQzTgGHTOaB5sQ_AUoAnoEC
A4QBA&biw=1536&bih=706&dpr=1.25#imgrc=NnTeznNShVQfvM
2
Course Outcomes
CO Number Title Level
CO1 Remember
To Identify the legal aspects of law under
Indian Contract Act.
CO2 Understand
To apply of offer and acceptance in laws,
performance and discharge of contract and
its remedies
CO3 Analyse
To analyze the contract of indemnity,

Guarantee and Sale of Goods Act, 1930.
CO4 To evaluate the current laws, rules and Evaluate

regulations related to settling business
disputes and communicate effectively
using standard business and legal
terminology
CO5 Apply
To design a model for free consent related
to elements that make contract voidable
and checking its effect on the contract
Company Meetings
• A company meeting may be defined as a

concurrence or coming together of at least a
quorum of members(2 directors or 1/3rd of total
directors) in order to transact either ordinary or
special business of the company.
• According to P.K. Ghosh
“Any gathering, assembly or coming together of two
or more persons for the transaction of some lawful
business of common concern is called meeting
Characteristics
• Two or more persons (who are the members of the
Company) must be present at the meeting.
• The assembly of persons must be for discussion and
transaction of some lawful business.
• A previous notice would be given for convening a
meeting.
• The meeting must be held at a particular place,
date and time.
• The meeting must be held as per provisions/rules
of Companies Act.
Kinds of Company Meetings
• Meetings of shareholders:
I. Statutory meeting: within six months after the
date on which it commenced its business, first
meeting , held once in the whole life of the
company, notice periods 21 days, to discuss
about matters relating to incorporation,
allotment of share, the details of the contracts
concluded by the company,
II. Annual general meeting (AGM): held once in a
year, to review the progress and prospects, held
within 18 months of its incorporation.
Subsequent annual general meeting must be
held by the company each year within six months
of the closing of the financial year, interval b/w
AGM should not be more than 15 months, notice
periods 21 days
III. Extra ordinary general meeting; held between
two Annual General Meetings, to discuss any
particular matter of urgent importance to the
company, decision of which cannot be postponed
to the next Annual General Meeting. Can be called
to make the changes in MOA, AOA or reduction in
share capital.
IV. Class meetings: When the meeting of a particular
class of shareholders takes place such as preference
shareholder meeting, it is known as class meeting.
Meetings of directors:
1. Meetings of board of directors; At Least One Meeting in Every

Three Months, At least four such meetings shall be held in every
year. [Sec. 285], notice periods as per AOA
• To discuss the following
(i) To issue shares and debentures.
(ii) To make calls on shares.
(iii) To forfeit the share
(iv) To transfer, the shares.
(v) To fix the rate of dividend.
(vi) To take loan in addition to debentures.
(vii) To think over the difficulties of the company
(viii) To determine the policies of the company
ASSESSMENT PATTERN
• Understanding of the subject will be assessed through question and answer technique in the
class
• 2 Mid semester tests will be conducted
• Students will appear for online quiz at the end of the semester
• Surprise test to be taken during the semester
• Regular assignments and case study discussion will be done to bring more clarity on the
subject
10
APPLICATIONS
• Concept of Indian Contract Act
• Concept and importance Law of contract
• Discharge and Breach of contract
• Agent and various types of Agent.
11
References
• Mercantile Law by Garg, Chawla, Sareen, .
• http://www.legalserviceindia.com/laws/contracts.htm
• Elements of Mercantile Law by Kapoor N.D,
12
THANK YOU

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INSTITUTE: University

To analyze the contract of indemnity,

CO4 To evaluate the current laws, rules and Evaluate

• A company meeting may be defined as a

1. Meetings of board of directors; At Least One Meeting in Every

• Concept and importance Law of contract

• Discharge and Breach of contract

• Agent and various types of Agent.

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