JOINT COMPANY – Muhasebe News

Where And When Are The Joint Company Meetings Are Made?

MuhasebeNews — Tue, 30 Oct 2018 08:00:55 +0000

1- WHERE AND WHEN ARE THE JOINT COMPANY MEETINGS ARE MADE?
1.1- General Assemblies have stated meetings and emergency meetings. Stated meetings are done in 3 months since the end of operating cycles. In these meetings, negotiations and decisions are made for the choice of members, financial tables, the yearly reports of executive board, the usage of profit, determination of the profit and earning shares that will be distributed, all the issues related to operating cycles and other necessary matters.
1.2- General Assembly is called for emergency meeting when necessary.
1.3- General Assembly meets in the headquarters of the company, unless there’s a provision against it in the prime contract.

2- WHO CAN CALL THE GENERAL ASSEMBLY FOR MEETING?
2.1- General Assembly, can be called for meeting by the executive board even if it’s out of date. Liquidating agents can also call the general assembly for meeting related to their responsibilities.
2.2- In case the General Assembly can’t meet frequently and there is no opportunity fort he meeting quorum or the meeting quorum isn’t present, with a permission from the court, a single shareholder can call the general assembly to meeting. Court’s decision is final.

Source: Turkish Commercial Law

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In Which Situations Can You File Nullity Suit For General Assembly Decisions in Joint Companies?

MuhasebeNews — Fri, 17 Aug 2018 07:00:52 +0000

1- IN WHICH SITUATIONS CAN YOU FILE A NULLITY SUIT FOR GENERAL ASSEMBLY DECISIONS IN JOINT COMPANIES?
Persons stated in Turkish Commercial Law, article 446 (persons who were present in the meeting and voted negative to the decision, shareholders, executive board, members of the board who will execute decisions and have personal responsibilities who claim the call was not made duly), can file for a lawsuit for general assembly decisions which are against the law, against prime contract provisions and especially against good faith rules, during the 3 months after the decision date, at the commercial court of first instance where the headquarters of the company resides.

2- WHO CAN FILE A LAWSUIT FOR THE CANCELLATION OF GENERAL ASSEMBLY DECISIONS?
2.1- Those who were present in the meeting, voted no and had their opposition written to minute,
2.2- Shareholders who claim that the call was not made duly, the agenda was not stated clearly, people or representatives who do not have the authority to join the general assembly have joined the meeting and voted, they were unjustly not allowed to join the general assembly and vote and the outliers stated above have been efficient in the decision making of the general assembly, whether they were present or not in the meeting or whether they have used a negative vote or not,
2.3- Executive Board,
2.4- Executing Decisions, each member of the executive board can file for a lawsuit if it causes a personal responsibility.

3- WHICH DECISIONS OF THE JOINT COMPANY ARE NULL?
Especially;
3.1- Shareholder’s decisions about joining the general assembly, minimum votes, those restricting or eliminating their essential rights because of law suits and the law,
3.2- Those restricting shareholder’s rights to gain information, examination and inspection beyond the lawfully allowed amount,
3.3- Decisions that damage the joint company’s fundamental structure and that are against the capital maintenance provisions, are null.

Source: Turkish Commercial Law

5.269 Companies Were Established On July 2017 !!!

MuhasebeNews — Wed, 18 Oct 2017 11:00:27 +0000

1- COMPANIES WERE ESTABLISHED IN ALL CITIES ON JULY 2017.
%80,32 of the companies and cooperative societies that were established on July 2017 are limited liability companies, %18,28 are joint companies, %1,40 are cooperatives.
Company and cooperatives are established in;
1.1- %36,17 in İstanbul,
1.2- %11,60 in Ankara,
1.3- %6,28 in İzmir,
Companies were established in all cities during this month.

2- TOTAL EQUITY OF COMPANIES ESTABLISHED ON JULY 2017, HAS INCREASED %1,85 ACCORDING TO JUNE 2017.
42.043 companies and cooperatives were established in the first seven months of 2017. The 34,127 limited liability companies which were established in this period make up the %46,75 of the total equity, 7.358 joint companies make up the %53,25. Total equity of companies stablished on July has increased %1,85 according to June.

Source: The Union Of Chambers And Commodity Exchanges Of Turkey