Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARD :: empanelment :: cpt :: due date for vat payment :: TDS :: list of goods taxed at 4%
 
 
News Headlines »
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government

Meetings are indispensable
March, 15th 2007

The clown sings in Twelfth Night: `Journeys end in lovers meeting... ' Alas, company meetings are different journeys, which you can't wish away. For, "Meetings are indispensable when you don't want to do anything," as John Kenneth Galbraith reminds.

Don't take them lightly, though. Paula Abdul insists that failing to prepare when going to meetings or auditions, is preparing to fail. Thankfully, here's help for the meeting-hassled to prepare for the inevitable occasions: Company Meetings: Law, Practice & Precedents, by T. K. A. Padmanabhan, from Company Law Institute of India Pvt Ltd (www.cliofindia.com).

"A company is a juristic person having no limbs and soul. Therefore, it becomes necessary for a company to act through some real persons," reads the raison d'tre of meetings.

The author draws up a matrix to dissect meetings into three phases (pre-meeting, meeting, and post-meeting) and four stages calling, holding, recording, and filing. Each stage comprises multiple activities. For example, the `calling' phase has notice and agenda, while `recording' has resolutions and minutes as the component tasks.

An interesting interlude in the chapter on board meeting is the one about frequency. The context is Section 285 of the Companies Act, 1956, which says that board meeting should be held at least once in every three months and at least four such meetings should be held every year. "There is a clear distinction between `every' and `each'," explains a letter of the Department of Company Affairs.

"In modern usage `every' directs attention chiefly to the totality, `each' chiefly to the individuals composing it. In view of this distinction, the expression `every three months' occurring in Section 285 should naturally mean three months taken together... There is no scope of making backward calculation."

As a result of this `hyper-technical interpretation' board meetings have become `a farce and a bald ritual,' rues Padmanabhan. "It is possible to have a meeting on January 1 and June 30... This is not, certainly, the situation envisaged by the statute." He cites the Rishyashringa Jewellery Ltd case, in which the apex court held that the expression `each such stock exchange' meant `every stock exchange'.

The book has a chapter on committee meetings. While any talk about committees can be highly disturbing to most of us, what can be more disturbing is that the Companies Act has not defined `committee'. This, despite the law talking about statutory and optional committees.

Guidance from Ross Perot, on when to appoint to a committee, is this: "If you see a snake, just kill it don't appoint a committee on snakes."

Towards the end of the book is a chapter on cyber meetings, where you'd read, among other things, that tele-immersion is `the ultimate synthesis of media technologies'.

Wonder if that should make meetings more enjoyable. Upsetting any such imagination that we might immerse ourselves in, Thomas Sowell advises, "People who enjoy meetings should not be in charge of anything."

Towards the end of the book is a chapter on cyber meetings, where you'd read, among other things, that tele-immersion is `the ultimate synthesis of media technologies'. Wonder if that should make meetings more enjoyable. Upsetting any such imagination that we might immerse ourselves in, Thomas Sowell advises, "People who enjoy meetings should not be in charge of anything."

Suggested meeting read.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions