14 February 2011
Dear all, My query is regarding calling AGM for shorter notice of a private company...In companies AOA it is written atlaeast 3 dayz notice for AGM could be given... My question is company wants to give 2 days notice...wat can be done thanx in advance
15 February 2011
In my opinion as per Sec 171(2)(i) of the Companies Act, 1956,a Company can call its AGM at shorter notice if it receives the consent of all the members in Form No. 22A. As the Companies ACT provides 21 days notice for the General Meeting, but shorter notice can be given if we complied Sec 171(2)(i)or (ii).Similarly if Articles provide 3 days notice, we can call AGM/EGM at shorter notice by complying Sec 171(2).
16 February 2011
@ Megna Since the company is a private company the provisions of sec 171 does not applies to it but the articles of the Private Company should have a provision to specifically exclude the provisions of Sec 171. In the present case the articles are silent on wether the company can hold the AGM by giving a shorter notice. So in my opinion the company can call an AGM by giving a shorter notice with the consent of all the members who are entitled to vote at the AGM in form no 22A in accordance with the provision of sec 171.
16 February 2011
As per Section 176 of the Companies Act, 1956, the members of the Company may appoint proxy. Minimum period of proxy given is 48 hours before a meeting. Therefore, any 3 days of shorter notice is proper. The Company can't hold meeting on 1 day or 2 days as it will not meet requirements of Sec.176. Sec. 176 is applicable to Private Limited Company also.
CAclubindia
