Length of notice under the companies act
This query is : Resolved
07 October 2011
Hi Friends!
Can articles of Pvt.Ltd. Company contain a provision in connection with the length of notice. I mean for AGM the length of notice as per act is 21 clear dates. Can articles mention something lesser than that. Please suggest.
Can articles of Pvt.Ltd. Company contain a provision in connection with the length of notice. I mean for AGM the length of notice as per act is 21 clear dates. Can articles mention something lesser than that. Please suggest.
07 October 2011
Dear Deepa
if you read the provisions of section 170 of the Companies Act 1956 then it is specifically written......Not withstanding anything contain contrary in the Articles .....means articles can not provide less period than as per provisions of section 171 of the Act i.e.21 days..
yes deepa,,,,if you read secretarial standard of Institute of Companies Secretaries of India then it is specifically written for 21 days notice.... but it is admitted that articles of the pvt ltd company can provide otherwise...means we can specified in other ways whether in more than 21 days or less than 21 days but it must not prejudice the other provisions of the Companies Act 1956...
So admitted as per section 170(2) and your opinion.,,,, but still can be checked whether it is challenge able or not as in pvt ltd company we can held general meeting with only one day notice if prescribed in article....
if you read the provisions of section 170 of the Companies Act 1956 then it is specifically written......Not withstanding anything contain contrary in the Articles .....means articles can not provide less period than as per provisions of section 171 of the Act i.e.21 days..
yes deepa,,,,if you read secretarial standard of Institute of Companies Secretaries of India then it is specifically written for 21 days notice.... but it is admitted that articles of the pvt ltd company can provide otherwise...means we can specified in other ways whether in more than 21 days or less than 21 days but it must not prejudice the other provisions of the Companies Act 1956...
So admitted as per section 170(2) and your opinion.,,,, but still can be checked whether it is challenge able or not as in pvt ltd company we can held general meeting with only one day notice if prescribed in article....
07 October 2011
but its written notwithstanding anything to the contrary in the articles of the company, apply with respect to general meetings of a public company and of a pvt. comp. which is a subsidiary of pub company.
10 October 2011
Section 171 specifying 21 days notice is not applicable to private company.
if the article contains 14 days notice then 14 days notice is to be given. Notice lesser than 14 days will be subject to consent for shorter notice by all the members in case of AGM and in the case of EGM, consent by members holding not less than 95% of paid up capital or 95% of the total voting power, as the case may be.
if the article contains 14 days notice then 14 days notice is to be given. Notice lesser than 14 days will be subject to consent for shorter notice by all the members in case of AGM and in the case of EGM, consent by members holding not less than 95% of paid up capital or 95% of the total voting power, as the case may be.
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