AGM : Meeting

Originally posted by : Parmod Agarwal
	Dear Sir, on 17th September every year our Company has declared as holiday on account of Vishwakarma Pooja & our all office and factory plant were closed on 17thSept,09. But our company has hold AGM on 17th September,2009. is it possible that AGM can be hold on holiday because As per Act AGM can be hold on the working day . Please Advise. Thanks Parmod

as per Sec 166 : AGM must be held on the day WHICH IS NOT A PUBLIC HOLIDAY.

in ur case its not a public holiday.. so the AGM is valid..

Yes... Adarsh is right.... but hwat if Vishwakarma pooja is a holiday in a particular state...?

Dear all,

plz check the sec. 2(38) definition of public holiday.

with warm regards,

Aman Kumar Jain

AMAN JAIN & ASSOCIATES,
COMPANY SECRETARIES
NEW DELHI
Mob. No. +91.97174.900.58
                 +91.93137.82.760

Section 2(38)

"public holiday" means a public holiday within the meaning of the Negotiable Instruments
Act, 1881 (26 of 1881);
Provided that no day declared by the Central Government to be a public holiday shall be deemed
to be such a holiday, in
relation to any meeting, unless the declaration was notified before the issue of the notice
convening such meeting;

If AGM of a company is held on a public holiday and appointed directors in such meeting. Whether such appointment is valid?

No, the appointment will not be valid.

Since the meeting held on public holiday is not valid therefore any business transacted will also not be valid.

Thank you for ur response.

can pl.  you cite any provision or judgement

Agree with Mitali.

No need to search any case law or clarification for such kind of plain interpretation.

Regards

Yes, section 166 is very clear in this regard  that AGM must be held on the day that is not a public holiday.