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Compliance regarding alteration of MOA

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jeets

461 Points Posted on 14 July 2010

Hi,

I'm working on the compliance of a private company. The company was incorporated on 24/09/2009 and there was a alteration in MOA which was registered based on the EGM/AGM resolution passed on 05/10/2009

I'm confused about ensuring the compliances as there is just twelve days between these events.

1- First Board meeting, Board meeting calling EGM, 21 days notice for EGM, actual EGM

How can I ensure compliance, any ideas--- Pls reply

Regards

Jeet

Replies (1)

Deepak Maharishi

514 Points Posted on 14 July 2010

Dear Jeet,

What i understand is that you are concerned about the gap of only 12 days between the Board meeting calling EGM and EGM itself.

So in this case, please refer to section 171 which states that 21 clear days notice is required for calling EGM but in case it is to be called at a shorter notice then consent of 95% shareholders or voting power is required.

The consent is given in Form 22A by a shareholder. As a part of comliance, you may see that form received by the Company.

But, as you have said it is a private limited company, section 171 shalll not apply in this case and you may please refer to the articles for length of notice calling EGM.

Thanks and regards

Deepak Maharishi