State the importance of company meetings.

The term meeting is derived from the Latin word ‘Maeta’ means ‘face to face.

A meeting may be defined as ‘Any gathering or assembly or coming together of two or more persons for transacting some lawful business of a common concern.’ – P.K. Ghosh.

Importance of Company Meetings:

• Members get the opportunity to come together and discuss the work and progress of the company.
• Minutes of the last meeting is read, which enables the absent and present member to get a clear idea about the matters discussed in the previous meeting.
• It enables the management to discuss and decide about their policies, plan, programs, etc, and its implementation.
• Problems faced by the company can be discussed at the meeting and a decision can be arrived.
• Legal formalities related to convening and conducting meetings of the company are fulfilled by conducting meetings.
• Appointment of directors and auditors, declaration of dividend, approvals of the annual report, financial statements, auditors report, etc. can be done in the meetings.
• Strict action can be taken against defaulters in the meeting.