Agm notice
This query is : Resolved
15 November 2012
Dear Sir
Please let me know that the 23 days of AGM notice is inclusive of public holidays (Sunday) or not
Thanks
Nagaraju G
Please let me know that the 23 days of AGM notice is inclusive of public holidays (Sunday) or not
Thanks
Nagaraju G
20 November 2012
Hi
In total 25 days sunday will be inclusive but in any case AGM should not be held on public holiday.
Section 171 of the Companies Act, 1956 provides that a public company or a private company which is a subsidiary of the public company shall give a clear notice of not less than 21 days for calling a general meeting, whether annual general meeting or any other general meeting.
In total 25 days sunday will be inclusive but in any case AGM should not be held on public holiday.
Section 171 of the Companies Act, 1956 provides that a public company or a private company which is a subsidiary of the public company shall give a clear notice of not less than 21 days for calling a general meeting, whether annual general meeting or any other general meeting.
20 November 2012
Manner of counting 21 days for notice of a general meeting
For notice of meeting sent by post, period of 21 days is to be counted from expiry of 48 hours after posting. [Balwant Singh Sethi v Sardar Zorawarsingh Hushnak Singh Anand (1988) 63 Comp Cas 310 (Bom)].
As provided in section 171, an advance notice of not less than 21 days shall be given for calling a general meeting of members. The requirement of 21 days means 21 clear days, exclusive of the day when notice is served and the day when the meeting is held [Bharat Kumar Dilwalia v Bharat Carbon and Ribbon Manufacturing Co. Ltd. (1973) 43 Comp Cas 197 (DB)(Del). (See also N.V.R. Nagappa Chettiar v Madras Race Club (1949) 19 Comp Cas 175 (Mad)]. Thus, there should be at least 23 clear days for the despatch of a notice for a general meeting.
In this connection, section 53(2) provides that the service of a notice for a general meeting shall be deemed to have been effected at the expiration of 48 hours after the same is posted. There is one section of opinion that the said 48 hours (two days) shall also be added to the requirement of 23 days for a notice for a general meeting. Thus, the notice shall be sent 25 days in advance. When the full notice is advertised the period of 21 days starts from the day of the advertisement appears and the day of the meeting shall be excluded. In that case the explanatory statement need not be advertised but may be sent to the members alongwith the notice.
For notice of meeting sent by post, period of 21 days is to be counted from expiry of 48 hours after posting. [Balwant Singh Sethi v Sardar Zorawarsingh Hushnak Singh Anand (1988) 63 Comp Cas 310 (Bom)].
As provided in section 171, an advance notice of not less than 21 days shall be given for calling a general meeting of members. The requirement of 21 days means 21 clear days, exclusive of the day when notice is served and the day when the meeting is held [Bharat Kumar Dilwalia v Bharat Carbon and Ribbon Manufacturing Co. Ltd. (1973) 43 Comp Cas 197 (DB)(Del). (See also N.V.R. Nagappa Chettiar v Madras Race Club (1949) 19 Comp Cas 175 (Mad)]. Thus, there should be at least 23 clear days for the despatch of a notice for a general meeting.
In this connection, section 53(2) provides that the service of a notice for a general meeting shall be deemed to have been effected at the expiration of 48 hours after the same is posted. There is one section of opinion that the said 48 hours (two days) shall also be added to the requirement of 23 days for a notice for a general meeting. Thus, the notice shall be sent 25 days in advance. When the full notice is advertised the period of 21 days starts from the day of the advertisement appears and the day of the meeting shall be excluded. In that case the explanatory statement need not be advertised but may be sent to the members alongwith the notice.
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