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)

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)

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)

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)

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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