Approval and adoption of accounts

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Kavitha (Querist)
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12 October 2011 Can a private limited Company conduct a Board Meeting for approval of accounts and then on the same day conduct the Annual General Meeting for adoption of the accounts so approved ? Please let me know if it would be in complaince with the Companies Act, 1956? Urgent

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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12 October 2011 Yes.

Pursuant to section 171(2) of the Companies act, 1956, you can call AGM after giving shorter notice, on same date as of the date of board meeting.

However, you have to obtain consent to shorter notice for calling AGM, from all the members.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 October 2011 Consent should be obtained in form 22A.

Kavitha

Kavitha (Querist)
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12 October 2011 Thank you for your reply. Further Can u please let me know if special notice is required in case of EGM being hled for appointment of a auditor in casual vacancy as the retiring auditor is resigning before the expiry of the term of his office?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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12 October 2011 To fill the casual vacancy arising by resignation of the Auditors, No special notice under section 225 is necessary. An EGM shall be convened and the appointment shall be made by passing an ordinary resolution.

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