Company law Querry
This query is : Resolved
27 April 2011
What Is The Definition Of Ordinary Business & Special Business????
27 April 2011
As per Section 173(1)(a) of the Companies Act,1956,there are four ordinary business. In an AGM only these four businesses are ordinary business rest are special businesses. In case of any other general meeting all business are special business.
The said ordinary busineses are:-
(i) the consideration of the accounts, balance sheet and the reports of the Board of directors and auditors,
(ii) the declaration of a dividend,
(iii) the appointment of directors in the place of those retiring, and
(iv) the appointment of, and the fixing of the remuneration of, the auditors.
The said ordinary busineses are:-
(i) the consideration of the accounts, balance sheet and the reports of the Board of directors and auditors,
(ii) the declaration of a dividend,
(iii) the appointment of directors in the place of those retiring, and
(iv) the appointment of, and the fixing of the remuneration of, the auditors.
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