Financial Definition of debenture What It Is Debentures are bonds that are not secured by specific property or collateral. Instead, they are backed by the full faith and credit of the issuerand bondholders have a general claim on assets that are not pledged to other debt. Company XYZ could issue debentures instead.
The agenda must not be vague but should be clear and definite.
Croydon Tramways, 1 Ch The agenda of a meeting whether it is a board meeting or any other meeting lists out the things to be done at a meeting and businesses to be discussed and transacted at a meeting.
The Companies Act, does not have any provision for the preparation or for the requirement of sending agenda for the board of directors meeting or general meetings but although not statutorily required laying down agenda for a meeting cannot be totally abondoned.
The order of businesses to be set out in the agenda is usually fixed in consultation with the chairman of the meeting and routine items such as confirmation of minutes of previous meeting and consideration of leave of absence of directors are mentioned first.
The word "meeting" also connotes that there should be at least two persons to constitute a meeting. This general rule is, however, subject to a statutory exception where even one person may validly constitute a meeting, e.
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Similarly, the Company Law Board may, under section and Section of the Companies Act,order that a single person shall constitute a valid meeting. The Court may also order a meeting to be called with a single member attending the meeting.
Sticky Fingers Restaurant Ltd. Except in such exceptional cases, meeting means and implies, meeting of more than one person. Under the Companies Act, there can be board meeting, general meeting and class meeting. In definitions given under Secretarial Standard-1, board meeting means a meeting duly convened and constituted of the Board or any Committee thereof' and under in definition giving Secretarial Standard-2, meeting or general meeting or extraordinary general meeting means a meeting of members duly convened by the Board or on the requisition of members.
From this it follows that there cannot be any meeting without a proper notice indicating tile subject matter to be discussed at the meeting.
Bank of Australia, 45 Ch D It is a general rule of common law that a corporate body is not properly constituted unless the notice of Meeting is Given to every member.
Mahabir Prasad Jalan v. Bajrang Prasad, [ Com Cases 81 Cal.
Place, time and proper authority of notice Ss. Potter, 1 Ch The logical necessity of a notice of a meeting, Smyth v. Darley, 2 HLCfurther implies that the persons attending the meeting must know the place as well as the time where and when the meeting is to be held.SECTION POWERS AND DUTIES OF AUDITORS AND AUDITING STANDARDS [Effective from 1st April, ; Sub-section (12) as amended by Companies (Amendment) Act, effective from 14th December, ](1) Every auditor of a company shall have a right of access at all times to the books of account and vouchers of the company, whether kept at the registered office of the company or at any .
Overview. e-Laws provides online access to official copies of Ontario’s statutes and regulations.
Statutes. A statute, also known as an Act, is a law passed by a Legislature. A debenture is a type of debt instrument that is not secured by physical assets or collateral. Debentures are backed only by the general creditworthiness and reputation of .
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Company History - Reliance Industries: - On 8th May the company was incorporated in Karnataka state as a public limited company under the name Mynylon Ltd. to manufacture synthetic blended. Professional Level – Options Module Time allowed 3 hours 15 minutes This question paper is divided into two sections: Section A – BOTH questions are compulsory and MUST be attempted.