Minutes of Shareholders for a Public Company

The Minutes of Shareholders Meeting is a document used as the official record of the business of the shareholder's meeting. This is specifically created for the use of a Public Limited company. It is a fair and correct summary of the proceedings of the meeting. In India, every company is required to maintain the records of minutes of the shareholder's meetings.

A public company is a company that is listed or recognized on a stock exchange like NSE, BSE, etc. and the securities/shares can be traded publicly E.g., Tata Ltd.

In the case of a private limited company, a separate Minute's of Shareholders Meeting for a Private Limited Company can be used.

The minutes kept in accordance with the rules of the Companies Act, 2013 are valid evidence in a court of law. The minute's book acts as evidence of conducting the shareholder's meeting and the record of resolutions passed in the meeting. The minutes can be kept in either physical or electronic form (with timestamp).

Unless the Articles of Association (AoA) provide for a larger number, the quorum for public company shareholders meeting is as follows:

• five shareholders personally present if the number of shareholders on the date of the meeting is not more than one thousand;
• fifteen shareholders personally present if the number of shareholders as of the date of the meeting is more than one thousand but up to five thousand;
• thirty shareholders personally present if the number of shareholders as of the date of the meeting exceeds five thousand.

How to use this document?

The Minutes include the following important information:

General Details - the serial number of the meeting, type of the meeting, name of the company, date, time, venue of the meeting, method of meeting (virtual or physical) etc.

Details of director's present - The details of the director including name, designation, DIN, etc. are included.

Details of other invitee's present - The details of other invitees like the CEO, CFO, Legal Counsel, CS, etc. are included.

Details of shareholders present - This includes the details of shareholders who are present for the meeting including their voting rights in the company.

Details of shareholders not present - This includes the shareholders who are not present for the meeting and their voting rights.

Chairman of the meeting - This includes the details of the temporary chairman elected for the conduct of the shareholder's meeting.

Secretary of the meeting - Generally, Company Secretaries (CS) record the minutes of the meetings and will be responsible for consolidating the minutes of the meeting.

Notice of meeting - This includes how and when the notice of the meeting was served to the shareholders and other stakeholders of the company about the current meeting. It is important to mention the details and get them approved in the meeting of the shareholders.

Review of previous minutes - This includes the details of previous minutes and resolutions passed by the shareholders.

Unfinished businesses from the previous minutes - Under this, the details of previous unfinished resolutions passed by the shareholders can be included.

Resolutions passed in the current meeting - This section covers the details of resolutions passed in the current meeting.

Next meeting details - The date, time, place, etc. of the next shareholders meeting can be included here.

Once prepared, the minutes need to be signed by the Chairman (initials on each page) and need to be kept in the company's minutes book.

Applicable laws

The rules and regulations under the Companies Act 2013 will be applicable here.

How to modify the template?

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.