Foreign directors/ AGM

This query is : Resolved

Sanchit Jain (Querist)
Follow

29 October 2009 There is a private limited company which has 2 foreign directors. The directors do not travel to India. How to hold their AGM in the state where registered office is situated (Delhi)

Regards,
CA. Sanchit Jain

Ankur Garg

Ankur Garg (Expert)
Follow

29 October 2009 Hi,

First understand presence of all the directors in AGM is not mandatory.

As your company is a private company 2 members personally present as quorum under section 174 is enough to hold a valid AGM.

Revert for further clarification.

Regards

Sanchit Jain

Sanchit Jain (Querist)
Follow

29 October 2009 The company has only 2 foreign directors. Atleast one of them should be present to conduct the meeting?
Further, the shareholders are also foreigners, for whom proxies can be appointed.

Is there a possibility of adopting the accounts by circular resolution?

Ankur Garg

Ankur Garg (Expert)
Follow

29 October 2009 As per section 174 physical presence of 2 members is mandatory as quorum for a valid GM. Rest of the members may be present through proxies.

Legally it is nowhere mentioned that 1 director should be present in GM. So if it is unpractical for you then you may go for without directors.

However physical presence of 2 members is mandatory as quorum for a valid GM.

Regards

gbalakrishnan

gbalakrishnan (Expert)
Follow

17 June 2013 SEE FRIENDS IN FOREIGN DIRECTOR KIND OF COMPANIES THE COMPANY ADOPTS ALTERNATE DIRECTORS LOCALLY APPOINTED ONCE APPROVED BY FOREIGN DIRECTORS PRESENT IN THE RELEVANT MEETING, AS 2 DIRECTORS NEED TO BE THERE IN GM, ELSE THAT MEETING MAY BE TERMED SHAM THAT MAY CREATE SOME UNKNOWN PROBLEMS

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Prashant Asawa

Chnmaya parhi

JACOB ABRAHAM KURIALANICKAL

Somnath Maiti

Joyashish Maitra

Subscribe Now

Foreign directors/ AGM

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA