Adjournment of EGM

This query is : Resolved

CS Ashish Jain (Querist)
Follow

19 October 2010 In case of a EGM whether Shareholders can resolve to adjourn the meeting.

If yes, who has the authority to decide the time and place for the adjourn meeting. Whether shareholders themselves decide the date and time for the adjourn meeting.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

19 October 2010 Para 14 of the Secretarial Standard says as follows.
The chairman may adjourn a meeting with the consent of the members and shall adjourn a meeting if so directed by the members.

CS Ashish Jain

CS Ashish Jain (Querist)
Follow

19 October 2010 whether shareholders can adjourn the meeting without fixing the date and time I mean to say for a indefinite period.

If they can do so then how to decide the date and time of the adjourn meeting after the adjournment and who will decide.

CS Ashish Jain

CS Ashish Jain (Querist)
Follow

Ajay Mishra

Ajay Mishra (Expert)
Follow

20 October 2010 Hi
If quorum is not present within half an hour, the meeting shall stand adjourned.
Section 174(3) of the Companies Act, 1956 provides that if within half an hour from the appointed time for holding meeting , the quorum is not present, the meeting shall stand adjourned to the same day in the next week, at the same time and place or to such other day or such other place, as the Board May determine.
This means that the Board of Directors has option, unless the article otherwise provide, to issue another notice by giving the required advance period of 21 clear days if the company proposes to hold the adjourned meeting at a time other than the same day and time next week.
Provided that if the general meeting is called upon the requisition of members and the required quorum is not present within half an hour from the time appointed for the meeting, in such situation the meting shall stand dissolved.
As per SS-2 on general meeting, a duly convened meeting should not be adjourned arbitrarily by the Chairman. The Chairman may adjourn meeting with the consent of the members and shall adjourn a meeting if so decided by the members.

Regards

CS Ashish Jain

CS Ashish Jain (Querist)
Follow

20 October 2010 I want to know the provisions for the adjournment of meeting when the requisite quorum is present in the meeting but there is some dispute on some agenda items and shareholders need some more time.

Ajay Mishra

Ajay Mishra (Expert)
Follow

20 October 2010 Dear Friend

Section 174 deal with the adjournment of the general meeting for want of quorum and no other ground.

If shareholders have some dispute on agenda items then they can disapprove such items and if they want to pass some other item in general meeting they can call another general meeting under section 169 of the Act but they can not demand for more time to adjourn the meeting on insufficiant grounds.

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Mohit Kumar

CA Narender Yarragorla

Aayushi Chauhan

MUNISH KUMAR

CA Aakarsh Jain

Subscribe Now

Adjournment of EGM

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA