This Business Meeting – BCR CA Foundation Study Material is designed strictly as per the latest syllabus and exam pattern.
Business Meeting – BCR CA Foundation Study Material
Question 1.
Draft a notice convening the Twenty-Sixth Annual General Meeting of Strong Works Ltd. for the year ended 31st March 2007 to be held on 22nd September 2007 at Kalamandir Hall, 48 Shakespeare Sarani, Calcutta-17 at 11.00 a.m.
Answer:
Notice of The Annual General Meeting
Notice is hereby given that the 26th Annual General Meeting of Strong Works Ltd., will be held on 22nd of September of 2007 at Kalamandir Hall, 48 Shakespeare Sarani, Calcutta – 17, at 11:00 am; to transact the following business:-
Agenda of the Meeting-
- To confirm and adopt the minutes of the previous meeting of shareholders held on 25th June 2007.
- To receive, consider & adopt Profit & Loss Account for the year ended 31st March 2007 and the Balance Sheet as at the end of the said year together with the Auditors’ & Directors’ Report thereon.
- To appoint Auditors, to hold office for a period of 5 years ending on 22nd September 2012, subject to confirmation every year at Annual General Meeting and to fix their remuneration.
- To appoint a director in place of Mr. S.K. Agnihotri who retires by rota¬tion and being eligible offers himself for reappointment.
- To declare dividend @ t 5 per share as proposed by the directors at the board meeting, subject to the approval of shareholders by way of ordinary resolution for the year ended 31st March 2007.
For and on behalf of B.O.D.
Mr. A.K. Sharma
Company Secretary
Strong Works Ltd.
Question 2.
You are Secretary of Ferguson College Thrift and Credit Cooperative Society (FCTCCS), Chennai. You had issued a notice to hold the monthly meeting of its Executive Committee to transact the following business:
- To confirm the minutes of the last meeting.
- To consider loan applications for ₹ 50,000 each received from three members.
- To recommend dividend for the year 2005-06.
- To consider the resignation of Mr. Pankaj Agarwal, the treasurer of the society.
- To fix the date of the Annual General Meeting of the Society.
The meeting took place on 10th September 2006 Draft the minutes keeping the above agenda in mind.
Answer:
Mr. Raghavan, President of the Society chaired the meeting. The Agenda of the meeting was taken up and the following resolutions were passed.
Decisions
1. Confirmation of the Minutes of the Last Meeting
The minutes of the previous meeting of the EC held on August 5, 2006, were read and confirmed.
2. To Consider Loan Applications from the Members
The loan applications of Mr. Sanjay Malhotra, Mr. Shrinivasan, and Ms. Rina Sliarma each seeking a loan of ₹ 50,000, were considered and loans were approved. The following resolution was passed unanimously: “Resolved that Mr. Sanjay Malhotra, Mr. Shrinivasan and Ms. Rina Shar- ma, who had applied for a loan of ₹ 50,000, each is sanctioned with interest @ 9% p.a. repayable in 40 equal installments. Further resolved that Secretary be and is hereby authorized to complete all formalities in this behalf”.
3. Recommendation of Dividend for 2005-06
The matter of recommending payment of dividend for the year 2005-06 was taken up. After deliberations, it was resolved as under: “Resolved that Dividend at @ 6% for the year 2005-06 be and is hereby declared payable to the members of the Society.
4. To consider the resignation of Mr. Pankaj Agarwal, Treasurer of the Society.
The Chairman placed before the members the letter of resignation of Mr. Pankaj Agarwal, Treasurer. The resignation of Mr. Pankaj Agarwal was accepted with immediate effect. Mr. Mukesh Malik whose name was recommended by the Chairman was appointed interim Treasurer. It was resolved as under: “Resolved that resignation of Mr. Pankaj Agarwal be accepted with immediate effect.” Further resolved that Mr. Mukesh Malik, be and is hereby appointed interim treasurer of the society.
5. To fix the date the next Annual General Meeting
It was decided to hold the next Annual General Meeting of FCTCCS on October 15, 2006. The meeting ended with a vote of thanks to the Chair. Submitted by N.K. Jain Secretary