AGM on public holiday - very urgent

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2010 Ours is a pvt ltd company, I have issued the notice of AGM. Date of AGM is 17th December. Now, i came to know that, 17th is Moharam which is a public holiday. Though it is a pvt company, there are 10 shareholders out of them 3 are foreign investors so i cann't easily change the date. Pls let me know the consequences and the solutions.

Jayashree S Iyer

Jayashree S Iyer (Expert)
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14 December 2010 Please read the second proviso to Section 166(2).

If you could pass a circular resolution with the consent of all the members for holding the meeting on 17th, which is a public holiday, you can go ahead with the meeting as scheduled.
Issue a detailed notice specifying the circumstances which has necessitated passing this resolution. Notice as well as the consent of all members can be obtained via email.

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2010 Thank u Ma'am

But Section 166(2)(b) provides regarding the time and place of AGM not regarding the fixing of day. Is that correct ma'am?

Jayashree S Iyer

Jayashree S Iyer (Expert)
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14 December 2010 Please refer to A Ramaiya's Guide to the Companies Act. It is clarified by the Department that the 'time' in the second proviso to sub-section(2) of the section indicates the hour and the date of the commencement of the meeting. (Department File No.8/16(1)/61-PR).

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