The company has a Board of Directors comprising several directors as per respective share. All the shareholders or directors formed an Executive Committee according to the decision made at a meeting of the Board of Directors under the provisions of the Articles of Association.
The company is supposed to hold an Annual General Meeting (AGM) at the end of every calendar year. The directors, whenever they think, may call any General Meeting at any time under the provisions of Section 84 of the Act. Subject to the provisions of Section 87 (2) of the Act relating to Special Resolution at least 21 days notice specifying the place, the day, and the hour of meeting shall be given to the members.
An Annual General Meeting can be called within 14 days’ notice with the consent of all members entitled to receive notice of a General Meeting or to attend and vote at any such meeting.
The Board of Directors or Managing Directors whenever think and necessary may call an Extra-Ordinary General Meeting. The Managing Director of the company shall preside over all General Meetings. In the absence of the Managing Director, any other Director may be proposed to be elected as Chairman for the said meeting.
Two members personally present shall form the quorum unless otherwise determined by the company. No business shall be transacted at any General Meeting unless a quorum of members is present at the time when the meeting proceeds to transact business. The representative as stated under Section 86 of the Companies Act, 1994, if within half an hour from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of Members, shall be dissolved; in any other case it shall stand adjourned to the same day in the next week.
The Board shall meet as frequently as the Board shall determine, but not less than four times a year to conduct the business of the company. Meeting of the Board shall be held at such locations as the Board may determine from time to time.
Subject to any special rights and restrictions as to voting on a show of hands every member present in person and entitled to vote shall have one vote and upon a poll every member present in person or by proxy or power of attorney or as a representative of a Company shall have one vote in respect of every ordinary share held by him or her.
The Chairman of the Company shall hold the office for a period of 5 (Five) years unless he or she voluntarily resigns or is disqualified under Section 108 (1) of the provision of the Companies Act, 1994. He/she will preside over all the meetings of the Board of Directors as well as General Meeting.
Subject to the control and supervision of the Board of Directors, the Managing Director shall have the power to control the management of the businesses of the company with full power to do all acts, matters, and things deemed necessary.
Subject to the control and supervision of the Board of Directors, the Managing Director shall have the power to make and sign all contracts to the business of the company including contracts for sales and purchases and contracts for leases of property.
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