Consent of shareholders for convening the extended agm

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A company is facing issues convening its Annual General Meeting (AGM) due to a shareholder's refusal to consent to a shorter notice period. The company requires shareholder consent to hold the AGM with less notice, as filing MGT-7 for FY 2020 is complete. The discussion clarifies that if a shareholder with voting rights does not consent, the AGM cannot be held on shorter notice and must adhere to the standard notice period before AOC-4 XBRL can be filed.

Kavita R

Kavita R (Querist)
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04 August 2021 In one of the subsidiary companies the agm is being conducted late so there is a need of consent of shareholders to convene the agm with shorter notice for which MGT-7 has been already filed for FY 2020. One of the shareholder is an outsider who is not ready to give consent for that notice . Legally either shareholder which is a company, the company secretary or any director can sign .1) So can any one else be authorised on their behalf ? or else is there any other way to resolve this as my AOC-4 xbrl is stuck for this. 2) Is the consent mandatory for AOC-4 XBRL?

CS Divesh Goyal

CS Divesh Goyal (Expert)
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04 August 2021 1. This is not matter of AOC-4 filing. It is matter of conducting of AGM.

CS Divesh Goyal

CS Divesh Goyal (Expert)
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04 August 2021 1. If a Shareholder is not giving consent for holding of AGM on shorter Notice then Company cant hold AGM on shorter notice. Bcoz consent of at least 95% of the members entitled to vote in the meeting is required.

CS Divesh Goyal

CS Divesh Goyal (Expert)
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04 August 2021 3. if Shareholder not giving consent. then you have to hold AGM as per actual notice period. then after that only you can file AOC-4 xbrl.

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