the Tribunal thinks expedient. â« All other businesses transacted at an Annual General. Meeting except the consideratio
Annual general meeting should be held once every year. First annual general meeting of the company should be held within 9 months from the closing of the first financial year. Subsequent annual general meeting of the company should be held within 6 months from the closing of the financial year.. In case, it is not possible for a company to hold an annual general meeting within the prescribed time, the Registrar may, for any special reason, extend the time within which any annual general meeting shall be held. Such extension can be for a period not exceeding 3 months. An annual general meeting can be called during business hours, that is, between 9 a.m. and 6 p.m. on any day that is not a National Holiday.
If any default is made in holding the annual general meeting of a company, any member of the company may make an application to the Tribunal to call or direct the calling of, an annual general meeting of the company and give such ancillary or consequential directions as the Tribunal thinks expedient. All other businesses transacted at an Annual General Meeting except the consideration of financial statements and the reports of the Board of Directors and auditors; the declaration of any dividend; the appointment of directors in place of those retiring; the appointment of, and the fixing of the remuneration of, the auditors, are special business.
All general meetings other than annual general meetings are called extraordinary general meetings.
All businesses items can be transacted at the extraordinary general meetings are special business. Extraordinary General Meetings can be called by the Board, by the Board on requisition of shareholders, by requisitionists, by tribunal. A general meeting of a company may be called by giving not less than 21 clear days’ notice either in writing or through electronic mode. Every member of the company, legal representative of any deceased member or the assignee of an insolvent member; the auditor or auditors of the company; and every director of the company are entitled to notice of general meetings.
Quorum for (a) Public company is , 5 members personally present if the number of members as on the date of meeting is not more than 1000; 15 members personally present if the number of members as on the date of meeting is more than 1000 but up to 5000; and 30 members personally present if the number of members as on the date of the meeting exceeds 5000. And in case of (b) Private company: 2 members personally present, shall be the quorum for a meeting of the company. Every listed company or a company having not less than 1000 shareholders shall provide to its members facility to exercise their right to vote at general meetings by electronic means. One person company need not hold an Annual General Meeting.
