What is the difference between special resolution and resolution requiring special notice?

Resolutions requiring special notice and special resolutions are different from each other. The former is a procedure preceding the presentation of resolution proposed by certain members for approval of members at general meeting while the latter is a type of resolution passed under section 114 of the Act.

What is Section 115 of the Companies Act 2013?

Where, by any provision contained in this Act or in the articles of a company, special notice is required of any resolution, notice of the intention to move such resolution shall be given to the company by such number of members holding not less than one per cent.

What is a special resolution in Companies Act 2013?

A resolution shall be a special resolution when- the intention to propose the resolution as a special resolution has been duly specified in the notice calling the general meeting or other intimation given to the members of the resolution; the notice required under this Act has been duly given; and.

What is special resolution under Companies Act?

A resolution of members (or a class of members) of a company passed by: On a show of hands at a general meeting, a majority of not less than 75\% if it is passed by not less than 75\% of the votes cast by those entitled to vote (section 283(4), Companies Act 2006).

What is the difference between ordinary and special business?

“Special Business” means business other than the Ordinary Business to be transacted at an Annual General Meeting and all business to be transacted at any other General Meeting.

What needs a special resolution?

Special resolutions – also known as ‘extraordinary resolutions’ – are needed for more important decisions or those decisions affecting the constitution of a company. These require at least 75\% of the shareholders or directors to agree – and in some situations as much as 95\%.

What is special notice under Companies Act 2013?

A special notice is the notice of an intention to move a ‘resolution’, as may be required under the provisions contained in the Companies Act or in the articles of a company, given to the company in writing.

What do you mean by special resolution?

A special resolution is a resolution of the company’s shareholders which requires at least 75\% of the votes cast by shareholders in favour of it in order to pass. Where no special resolution is required, an ordinary resolution may be passed by shareholders with a simple majority – more than 50\% – of the votes cast.

What are special resolutions needed for?

What is a special resolution? Special resolutions – also known as ‘extraordinary resolutions’ – are needed for more important decisions or those decisions affecting the constitution of a company. These require at least 75\% of the shareholders or directors to agree – and in some situations as much as 95\%.

What is the notice period for a special resolution?

“Special notice” means that notice of intention to propose the resolutions must be given to the company at least 28 days before the relevant General Meeting.

What is ordinary business under Companies Act 2013?

Ordinary Business means business to be transacted at an Annual General Meeting relating to (i) the consideration of financial statements, consolidated financial statements, if any, and the reports of the Board of Directors and Auditors; (ii) the declaration of any dividend; (iii) the appointment of Directors in the …

What is special notice under Section 115 of Companies Act 2013?

Special Notice under Section 115 of Companies Act 2013: Notes What is Special Notice? A special notice is the notice of an intention to move a ‘resolution’, as may be required under the provisions contained in the Companies Act or in the articles of a company, given to the company in writing.

What is a special notice of resolution?

A special notice is the notice of an intention to move a ‘resolution’, as may be required under the provisions contained in the Companies Act or in the articles of a company, given to the company in writing. • Rule 23 of the Companies (Management and Administration) Rules, 2014.

What is special notice in company law?

Special Notice .— (1) A special notice required to be given to the company shall be signed, either individually or collectively by such number of members holding not less than one percent of total voting power or holding shares on which an aggregate sum of [not less than five lakh rupees][1] has been paid up on the date of the notice.

What is the time limit for sending the notice of resolution?

on the date of the notice. Notice shall be sent by the members to the company not earlier than 3 months but at least 14 days before the date of the meeting at which the resolution is to be moved. While counting the above mentioned time limit – both the day on which the notice is given and the day of the meeting, will be excluded.