Can a shareholder call agm
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2012
Please let me know if a shareholder call the Annual General Meeting, without permission of board of directors.
thanks,
thanks,
Ajay Mishra
(Expert)
22 October 2012
Hi
Section 167 deals with the power of the Central Government to call annual general meeting. If default is made in complying with the provisions of section 166 then section 167 takes over. Section 167 vests the Central Government with overriding powers to call annual general meeting.
Section 167 deals with the power of the Central Government to call annual general meeting. If default is made in complying with the provisions of section 166 then section 167 takes over. Section 167 vests the Central Government with overriding powers to call annual general meeting.
22 October 2012
Shareholder themselves cannot call AGM they can call EGM.
Sec 169 - Calling of extraordinary general meeting (EGM) on requisition.
(1) On receipt of requisition from specified no. of members Board of Directors (BOD) shall forthwith proceeds to call and EGM.
Specified No. of Members:-
In case of co. having share capital: - Not less than 1/10 of such of the paid up capital carries right to vote on the matter.
In case of co. not having share capital: - Not less than 1/10 of the total voting power carries right to vote on the matter.
Meeting by requisitionists:-
If BOD fails to call EGM within 21 days the after expiry of 45 days the requisitionists themselves may call the meeting in the same manner, as nearly as possible, as that in which meetings are to be called by the Board.
Such meeting by requisitionists shall not be held after the expiration of three months
Date: - date of deposit of the requisition is to be considered for the above purpose.
Sec 169 - Calling of extraordinary general meeting (EGM) on requisition.
(1) On receipt of requisition from specified no. of members Board of Directors (BOD) shall forthwith proceeds to call and EGM.
Specified No. of Members:-
In case of co. having share capital: - Not less than 1/10 of such of the paid up capital carries right to vote on the matter.
In case of co. not having share capital: - Not less than 1/10 of the total voting power carries right to vote on the matter.
Meeting by requisitionists:-
If BOD fails to call EGM within 21 days the after expiry of 45 days the requisitionists themselves may call the meeting in the same manner, as nearly as possible, as that in which meetings are to be called by the Board.
Such meeting by requisitionists shall not be held after the expiration of three months
Date: - date of deposit of the requisition is to be considered for the above purpose.
Ajay Mishra
(Expert)
22 October 2012
Hi
Under Section 167 the Central government can give direction that one member of the company present in person or by proxy can constitute a meeting.
Under Section 167 the Central government can give direction that one member of the company present in person or by proxy can constitute a meeting.
22 October 2012
The sections 96,97,98,99,100 as mentioned in the newly amended Companies Act,2011 recently approved by The Cabinet on 04/10/2012 deals with holding of Annual General Meeting.If the AGM is not hold as per compliance of Section,Tribunal at the request of any Member can call or direct the holding of AGM and also under Section 100,Members can request Board to call the EGM.
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