Issue of Notices & Preparation of MoM
We streamline the preparation of notices and minutes of meetings, ensuring essential discussions and decisions are accurately documented and filed as required.
In the world of corporate governance, issuing accurate and timely notices for meetings and maintaining comprehensive Minutes of Meetings (MoM) are essential for legal compliance and organisational clarity. At Benchmark, we specialise in ensuring that all notices and MoM follow the binding regulations laid out by the Companies Act, 2013, and other relevant statutes. This service is not just a legal requirement but also a foundational part of effective corporate management, ensuring that all meetings are well-documented, decisions are recorded accurately, and stakeholders are properly informed.
Our team of experienced Company Secretaries and legal professionals ensures that every notice and MoM we prepare complies with all regulatory provisions, including correct formats, statutory deadlines, and detailed documentation of all meeting decisions.
From Board Meetings, Annual General Meetings (AGM), Extraordinary General Meetings (EGM), to Committee Meetings, we provide full support to make sure your company's governance structure remains solid and compliant.
This service is indispensable for businesses looking to maintain compliance with the Companies Act, 2013, safeguard their decision-making processes, and provide stakeholders with a clear, legally valid record of meetings and decisions.
Our Services
At Benchmark, we provide customised services for the issuance of notices and the preparation of Minutes of Meetings (MoM), ensuring compliance with the Companies Act, 2013 and other regulatory frameworks. Here is a breakdown of our services related to the issue of notice & preparation of minutes of meetings.
| Service | Description |
|---|---|
Drafting of notices |
We draft notices for Board Meetings, Annual General Meetings (AGM), Extraordinary General Meetings (EGM), and Committee Meetings, ensuring that all mandatory details like date, time, venue, and agenda are included as per legal requirements. |
Timely dispatch of notices |
Notices are dispatched to all relevant stakeholders, including Directors and Shareholders, via both electronic and physical means, ensuring they are sent within the statutory timeframe (7 to 21 days depending on the meeting type). |
Compliance check for notices |
We verify the content and format of each notice to ensure they meet the requirements of the Companies Act, 2013, the company’s Articles of Association, and other regulatory provisions. |
Drafting minutes of the meeting |
Preparation of accurate MoM for Board Meetings, AGMs, EGMs, and Committee Meetings, reflecting all key discussions, decisions, and resolutions passed during the meetings. |
Approval and signing of MoM |
After drafting, MoM are reviewed by the Chairman and other relevant stakeholders. Once approved, they are signed by the Chairman and stored in the company’s minute book as required by law. |
Record keeping and Audit readiness |
We maintain thorough and secure records of all notices and MoM, ensuring they are audit-ready and easily accessible for future reference, inspections, or audits. |
Filing with regulatory authorities |
Resolutions and finalised MoM are filed with the Registrar of Companies (RoC) to ensure complete compliance with legal requirements, including the submission of necessary statutory forms. |
Handling Disputes Related to MoM |
We assist in resolving disputes over the content or accuracy of MoM by reviewing records, verifying details, and proposing necessary amendments or corrections, maintaining full legal compliance throughout the process. |
Why Choose Benchmark
At Benchmark, we ensure complete compliance with the Companies Act, 2013 and other legal frameworks by applying an unmatched degree of accuracy and experience to notice issuing and Minutes of Meeting (MoM) preparation. Because of our extensive knowledge of corporate governance, we can create and send meeting notices on time while making sure that all relevant parties, such as directors and shareholders, are notified.
We provide end-to-end services that speed up the entire process, from creating notices to submitting MoM to the Registrar of Companies (RoC), in addition to our proficiency in paperwork. We take great care at every stage, whether it's handling proxy forms, settling disagreements over minutes, or making sure the right quorum is present. Our method ensures privacy, security, and organised documentation, protecting confidential business information and giving you readily available records for audits or inspections. You can rely on Benchmark to manage your corporate governance procedures accurately, effectively, and compliantly at every turn.
Documents Required for Issuing Notices & Preparing MoM
To ensure accurate issuance of notices and the proper preparation of Minutes of Meetings (MoM), certain documents are necessary. Below is a list of required documents for each step, integrated with the necessary technical terms.
| Process | Document Required |
|---|---|
Issuing Notices |
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Preparation of MoM |
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Filing with Regulatory Authorities |
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Process for Issuing Notices & Preparing MoM
The process of issuing notices and preparing Minutes of Meetings (MoM) at Benchmark is designed to ensure compliance with the Companies Act, 2013 and other relevant regulations. Below is the step-by-step breakdown of our process:
Step 1: Drafting and Finalising the Notice for the Meeting
We start by drafting a formal notice for the scheduled meeting, clearly mentioning the exact date, time, venue (or virtual platform), and agenda items (what's included). We make sure that the notice complies with the Companies Act 2013, particularly Sections 101 and 173 for board meetings. Additionally, we know that, depending on the meeting type, we have to meet the required advance notice period of 7 to 21 days.
Step 2: Circulating the Notice to Directors and Stakeholders
Next, we circulate the finalised notice to all relevant parties, including directors and stakeholders, through mutually approved channels such as email, courier, or hand delivery. We maintain records of proof of dispatch, which is essential for regulatory purposes.
Step 3: Conducting the Meeting as per Agenda
On the scheduled date, we assist in conducting the meeting, ensuring that each agenda item is discussed thoroughly. During the meeting, we record the proceedings, capturing key discussions, decisions, and resolutions passed. Moreover, we ensure that the quorum required under the Companies Act 2013 is met, making the meeting legally valid.
Step 4: Drafting the Minutes of Meeting (MoM)
Following the meeting, we begin drafting the Minutes of Meeting (MoM). The minutes will accurately document the attendees, discussions, decisions, and resolutions. We follow Section 118 of the Companies Act 2013, ensuring all necessary details are captured clearly and concisely.
Step 5: Review and Approval of the Minutes
Then, we share the draft MoM with the chairperson or other relevant board members for review. Any suggested changes are incorporated before final approval. After this, the minutes are signed by the chairperson of the meeting.
Step 6: Filing and Archiving of Notices and Minutes
Finally, once the minutes are signed, we ensure they are filed securely in the company's records, as required by Section 119 of the Companies Act 2013. If any resolutions passed during the meeting need to be submitted to the Registrar of Companies (RoC), we take care of that filing as well.
Benefits of Professional MoM Preparation
Properly prepared Minutes of Meetings (MoM) offer significant advantages for corporate governance, legal compliance, and operational efficiency. Below are the key benefits:
Legal Compliance
Ensures complete adherence to the 2013 Companies Act, lowering the possibility of fines or penalties for missing paperwork. For regulatory inspections and audit preparedness, legally valid MoM are essential.
Transparent Decision-Making
MoM provide a clear and accurate record of resolutions passed, voting outcomes, and dissent expressed during meetings. This transparency promotes accountability and avoids future disputes.
Audit-Ready Documentation
Professionally prepared MoM ensures that all meeting records are well-organised and easily accessible for audits by internal teams or external regulatory authorities, reducing the risk of non-compliance during audits.
Structured Record-Keeping
With professional MoM preparation, all records are maintained in a structured manner, compliant with statutory requirements. This ensures that information is readily available for future reference or regulatory filings.
Non-Compliance Issues
Failure to properly issue notices and accurately prepare Minutes of Meetings (MoM) can result in significant legal and operational challenges for any business. Non-compliance with the Companies Act, 2013 and other regulatory frameworks can lead to financial penalties, reputational damage, and legal consequences. Below are some of the key non-compliance issues companies may face:
- Penalties for Late or Improper Filing
- Invalid Resolutions due to incorrect documentation
- Regulatory Audits leading to fines or legal actions
- Disputes Over Meeting Decisions resulting from incomplete or inaccurate MoM
- Loss of Corporate Credibility due to governance failures
- Legal Challenges from stakeholders or regulators for non-compliance
Conclusion
Issuing exact notices and preparing detailed Minutes of Meetings (MoM) are essential components of corporate governance, ensuring legal compliance and protecting your business from unnecessary risks. At Benchmark, we combine our deep expertise in the Companies Act, 2013 with a meticulous approach to every aspect of the process, from drafting to filing. Our professional services guarantee that your organisation maintains transparency, accountability, and readiness for audits or inspections.
Get in Touch
Take the next step in securing your business's compliance, contact us today to learn how our expert team can handle your notices and MoM preparation with precision and efficiency.
FAQs
Why is the issuance of notices important for meetings?
The issuance of notices ensures that all stakeholders, including directors and shareholders, are informed about the meeting in advance. It allows them to prepare for discussions and decisions, ensuring that the meeting is legally valid and compliant with regulations.
What happens if Minutes of Meetings (MoM) are not prepared correctly?
Incorrect or incomplete MoM can lead to legal disputes, invalid resolutions, and non-compliance penalties during audits. Properly prepared MoM serve as a legal record of decisions made and are essential for regulatory filings and audits.
Are there legal consequences for not filing MoM with regulatory authorities?
Yes, failure to file MoM with the Registrar of Companies (RoC) or other regulatory bodies can result in fines, penalties, and even potential legal action for non-compliance under the Companies Act, 2013.
How long should MoM be retained for audit purposes?
MoM should be retained as part of the company's permanent records and should be readily accessible for audits, inspections, or legal proceedings. Retention periods may vary depending on local laws and company policies, but generally, they should be stored indefinitely.
is responsible for reviewing and approving MoM?
The Chairman of the meeting is primarily responsible for reviewing and approving the MoM. Once approved, the MoM must be signed and stored in the company's minute book.