Agm
Querist :
Anonymous
(Querist) 16 August 2011
This query is : Resolved
Can AGM be held on 15th August
and prior notice of how many days will be needed?
ajay sethi
(Expert) 16 August 2011
yes AGm has to be held before 14th august . 14 days notice is necessary . agenda along with audited accounts are to be circulated to all members in advance
prabhakar singh
(Expert) 16 August 2011
since it is national holiday.it should not be,14/15days notice notice required.
A V Vishal
(Expert) 16 August 2011
Annual General Meeting cannot be held on 15th August. Refer S.166(2) of the Companies Act, 1956.
A notice of at least 21 days before the meeting must be given to members unless consent is accorded to a shorter notice by members, holding not less than 95% of voting rights in the company.
Querist :
Anonymous
(Querist) 18 August 2011
which companies are exempe and according to articles-can we fix the agm on 15/08/2011
As per Sec.166 of comapnies act
3[Provided that the Central Government may exempt any class of companies from the provisions of this sub-section subject to such conditions as it may impose:
Provided further that—
(a) a public company or a private company which is a subsidiary of a public company, may by its articles fix the time for its annual general meetings and may also by a resolution passed in one annual general meeting fix the time for its subsequent annual general meetings; and
(b) a private company which is not a subsidiary of a public company, may in like manner and also by a resolution agreed to by all the members thereof, fix the times as well at the place for its annual general meeting.]
A V Vishal
(Expert) 18 August 2011
Since your query is specifically for AGM, note that The companies licensed under section 25 need not to comply with the provisions of Sec 166 sub-section (2) with regard to time ,day and place of an annual general meeting, if the Board of Directors of the company decides before hand the time date and place having regard to the directions, given by the company in general meeting. (Please refer to Notification No. SO 1578, dated 1st July 1961 issued by Ministry of Corporate Affairs.
