Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Tally On Cloud Tally on Cloud: Ready for the Daily Backup Requirement
Keep your Tally books accessible from anywhere while supporting your Rule 46(8) obligations. With daily backups configured on servers physically located in India, Tally on Cloud helps you maintain the backup arrangement required for electronic books of account under the Income-tax Rules, 2026. Move your Tally to the cloud with confidence.
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.
 Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief
 ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know
 Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose
 CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27
 CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details
 Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window
 Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do
 Tax audit deadline September 30: Common mistakes taxpayers should avoid
 Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck
 Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money

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 2026 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting