Agm outside india

Meetings 1084 views 3 replies

Can an Indian company hold its AGM out of India some special case because both the directors are out of India and will not be back till the expiration of the due date????

Replies (3)

 

According to section 166(2) every AGM must be held either at the registered office of the company or within the city, town or village in which the registered office is situated. An AGM cannot be held elsewhere. but 166(2) has two exceptions also. According to it, a private company, which is not a subsidiary of a public company (simplicitor private company) can fix the place for all its AGMs by its articles or by a resolution passed in an AGM or by a resolution agreed to by all the members of the company, ie by unanimous consent of all its members. This resolution need not be passed at a general meeting of the company, since it is required to be "agreed to" by all the members. Such a resolution can be passed by obtaining individual consent of each member without holding a meeting.

By any of these methods a simplicitor private company can decide to hold an AGM other than the place specified in sub-section (2), namely the registered office of the company or some other place

But can this place be outside or India or is restricted to the City Village town in in which Regd office of the company is situated

Kindly Clarify

with Due Regards

Pl refer attached article on the subject. Thanks


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