AGM

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Prakash (Querist)

05 May 2009 4 persons are share holder in a pvt.ltd.co. out of these 2 persons are director. during the year both the directors are in abroad only. whether the 2 share holder(not a director) can conduct the AGM without 2 Directors.

Thanks & Regards,
Prakash.M

Parveen Bansal

Parveen Bansal (Expert)

06 May 2009 1.Directors are required for Board meeting. Shareholders are required for general meeting. Since query is in respect of AGM, only shareholders i.e. 4 are relevant to find answer.

2. Section 174 defines quorum for meeting. It states that unless the articles of the company provides for a large number, two members personally present shall be quorum of the meeting.

3. Even if shreholders are not present in India, notice for AGM has to be given to them also.

4. Hence, AGM can be held without 2 directors.

Rajeev Garg

Rajeev Garg (Expert)

06 May 2009 yes coz qouram is complete so meeting can be held as share holders may elect chairmen for meeting.

Ankur Garg

Ankur Garg (Expert)

10 May 2009 As your Co. is A Pvt. Co. hence Quorum would be 2 members personally present.

So your AGM is possible as quorum is available.

For chairman of the AGM see Regulation-52 of Table A.

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