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EGM (Corporate Law)

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This query is : Resolved

Author : Anonymous

( Author )
05 January 2011

Can an EGM of Indian co. be held in foreign ??
Give full explanation with reference to relevant sections.


udit sharma

( Expert )
05 January 2011

Hi....

An EGM of the Company need not be held at the Registered Office of the Company or within the city, town or village where the Registered office of the Company is situated.

An EGM of the Company can be held at any place. However, in my opinion, an EGM is a meeting of the members of the company and should be held at such place and time which is convenient to the members of the company. Before fixing the time and venue of the GM of the company and specially before deciding to hold the EGM of the company in a Foreign county,consent of the members should be obtained and if so agreed by all the members or majority of them, then the EGM of the Company may be held at any place so agreed to by the members inlcuding a foreign country.

Views of eminent experts are solicited......

Regards

CS Udit Sharma


Ajay Mishra

( Expert )
05 January 2011

Hi


Time, day and place of Extraordinary General Meeting
Unlike an annual general meeting, an extraordinary general meeting may be held at any time, on any day and at any place. Thus , extraordinary general meeting may be called even for a time beyond business hours ,on a public holiday and at a place other than the registered office of the company ,even outside the state in which the registered office of the company is situated or out side INDIA ( Please refer to Company law book by K.M.Ghosh & Dr. K .R. Chandratre’s page no.2511 para 1.4)


Regards


Jayashree S Iyer

( Expert )
05 January 2011

Agree with the experts. The provisions with regard to time, day and place of holding the meeting specified in Section 166(2) applies to AGM only.

Hence companies are free to hold EGM at any time, day and place.


Manmohan ACA, CS

( Expert )
05 January 2011

Agree with the experts.


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