Adjournment of agm
This query is : Resolved
14 December 2012
AGM is called on 30th September. But at the meeting quorum is not present. Last year AGM was concluded on 30th September. Can the meeting be adjourned? If yes till when?
15 December 2012
Hi
As per my understanding, adjournment should be made within due date of holding of AGM you due date is till 30.09 so you can adjourn within due date.
The Department has vide Circular File No. 8/16(1)/61-PR stated that there is no contravention of section 166(2) if the adjourned annual general meeting comes to be accidentally held on a public holiday.
As per my understanding, adjournment should be made within due date of holding of AGM you due date is till 30.09 so you can adjourn within due date.
The Department has vide Circular File No. 8/16(1)/61-PR stated that there is no contravention of section 166(2) if the adjourned annual general meeting comes to be accidentally held on a public holiday.
15 December 2012
Clarifications on adjourned annual general meeting
Query: Section 166(2) provides that every annual general meeting shall be called for a time during business hours on a day, that is, not a public holiday, and shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated. Section 174(4) provides that any meeting of a company other than that called upon the requisition of members, shall in the absence of a quorum, stand adjourned to the same day in the next week at the same time and place or to such other date and time and place as may be determined by the Board. The following issues arising out of the aforesaid section need clarification:—
(a) Is it necessary that notice of the adjourned general meeting is to be given to the members of a company?
(b) If the adjourned meeting falls on a holiday will there be any contravention of section 166(2), when the meeting is held on the holiday?
(c) Is it contemplated by section 174(4) that a meeting of the Board of directors is to be convened to fix another date for adjourned general meeting and, if so, is it necessary that notice thereof should be given to the members and what will be the period of such notices?
Answer:
(a) Not necessary, unless the date of the adjourned general meeting is not decided at the original meeting itself.
(b) There is no contravention of section 166(2) if the adjourned meeting comes to be accidentally held on a holiday.
(c) If the Board of directors fix another date for the adjourned general meeting, a notice is to be given to the members in accordance with the provisions of the Act governing notices of general meetings.
Source: File No. 8/16/(1)/61-PR, dated 19-5-1961.
Query: Section 166(2) provides that every annual general meeting shall be called for a time during business hours on a day, that is, not a public holiday, and shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated. Section 174(4) provides that any meeting of a company other than that called upon the requisition of members, shall in the absence of a quorum, stand adjourned to the same day in the next week at the same time and place or to such other date and time and place as may be determined by the Board. The following issues arising out of the aforesaid section need clarification:—
(a) Is it necessary that notice of the adjourned general meeting is to be given to the members of a company?
(b) If the adjourned meeting falls on a holiday will there be any contravention of section 166(2), when the meeting is held on the holiday?
(c) Is it contemplated by section 174(4) that a meeting of the Board of directors is to be convened to fix another date for adjourned general meeting and, if so, is it necessary that notice thereof should be given to the members and what will be the period of such notices?
Answer:
(a) Not necessary, unless the date of the adjourned general meeting is not decided at the original meeting itself.
(b) There is no contravention of section 166(2) if the adjourned meeting comes to be accidentally held on a holiday.
(c) If the Board of directors fix another date for the adjourned general meeting, a notice is to be given to the members in accordance with the provisions of the Act governing notices of general meetings.
Source: File No. 8/16/(1)/61-PR, dated 19-5-1961.
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