EGM

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2010 Dear Experts,

Can an EGM be held in the state other than state of the company's registered office.In our case company wants to hold its EGM outside India.

Please clarify and provide some case laws on this aspects.

Thanks & Regards

Ankur Garg

Ankur Garg (Expert)
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05 March 2010 YES

An EGM can be held in the state other than state of the company's registered office.

No case laws is required on this aspects as this is a plain interpretation of law.

However as per section 166(2) AGM can not be hold in the state other than state of the company's registered office.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2010 But your Secretarial Standard says that it should be held within the limit of district where registred office located or at registered office itself.

Can i say that Board Meeting and EGM can validly be conducted outside India and hence there is no restriction legally.

Thanks for your reply.

Kindly confirm

Regards

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 March 2010 But Sir, Companies (Amendment)Bill,2003 has proposed a change in section 169(1) regarding the place of conducting EGM. Would you please explain in the light of that proposal.

Ankur Garg

Ankur Garg (Expert)
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05 March 2010 Kindly appreciate Secretarial Standard are of recommendatory nature. Hence does not make any difference and binding effect.

Sir a proposal is just a proposal. It becomes law only after approval by legislature. Further you suggest what should be the final interpretation? As for me it was a simple one.

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