Hello - Looking for some guidance and help for easy way to do this. I am Shareholder No 2 below for this small Private Limited Company with 5 Shareholders. Shareholder and Director Details are below
(a) Shareholder 1 - 50.08% (India), Also Director and Chairperson
(b) Shareholder 2 - 24.94% (Foreign), Also Director
(c) Shareholder 3 - 24.94% (Foreign), Also Director
(d) Shareholder 4 - 0.02% (India), Also Director
(e) Shareholder 5 - 0.02% (India), Not a Director
The company wants to hold the AGM to approve the Board report and Financial Statements
(1) Can this AGM be held online when Shareholder 3 and 4 are abroad?
(2) Do Shareholder 4 and 5 need to be invited to AGM? Do they have any voting rights with each holding 2 out of 10000 shares ?
(3) Shareholder 2 has Proxy from Shareholder 1 and 3 - so controls 99.96% . Is an AGM even needed in this situation ?
(4) Who is Invited to AGM - is it just Shareholders or also all Directors? Who else?
(5) Who initates the request to hold AGM ? Can you please help share the process ? I am new to how this is done in India.
(6) Is AGM by video / online on option only for this year 2020 or is that also an option for future years as per Indian law?
(7) Can a Indian Director and 1 Foreign Director sign on Auditor report and Annual reports ?
Much appreciate the help. This is a small company. Shareholder 1, 2 and 3 are same family. Shareholder 4 and 5 are outsiders and we are trying to understand the best way to do this.
CAclubindia
