Saturday, January 19, 2019

What are the difference types of resolutions envisaged in the Companies Act 1994? What are the processes of passing a special resolution?

Different type of resolutions:

i. Ordinary resolution
ii. Special resolution
iii. Extra-ordinary resolution.
 
Special resolution:
This is passed in a General meeting by the three-fourth majority of the members present in person or by proxy if proxy is allowed, Notice for which specifying the intention to propose the resolution is to be given before 21 days the date of the meeting.

Special resolutions arc necessary for the following purposes:
  1. To change the name of the Company;
  2. To alter the Memorandum of Association;
  3. To alter the Articles of Association;
  4. To reduce the share capital;
  5. To convert any portion of the capital, uncalled in to reserve capital;
  6. To appoint inspectors to investigate the company's own affairs;
  7. For winding-up of a Company voluntarily.

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