Pallavi Moonka (company sectretary) (112 Points)
04 February 2016
CS Vivek Sharma
(Practising Company Secretary)
(422 Points)
Replied 04 February 2016
No there is no such provision in the Companies Act, 2013 for conducting AGM through video conferencing it clears says and focus on the word personally present. So as per Companies Act for a valid quorum of Meeting a specified members physical presence in the meeting is required.
Pallavi Moonka
(company sectretary)
(112 Points)
Replied 04 February 2016
Can other members be present through V.Con? since though there is no provision, there is no restriction even in this regard.
CS Vivek Sharma
(Practising Company Secretary)
(422 Points)
Replied 04 February 2016
In my view company not gonna spend money on video conferencing which is of no use to them. Company can provide this facility but it is of no use to company.
CS Divesh Goyal
(Practicing Compnay Secretary)
(50220 Points)
Replied 04 February 2016
As per Companies Act, AGM is not allowed to held through Video Conferencing.
As you told its not restricted, in case of General Meeting there is provision of Postal Ballot, Evoting but it will never ever possible for the Companies to hold General Meeting through AGM.
Second: as per Act AGM can be held only at the registered office of the Company, its also show that it should be held physically.
For Video conferencint of Board Meeting there is specific Provisiosn not for the General Meeting even in the Secretarial Standard - II.
Pallavi Moonka
(company sectretary)
(112 Points)
Replied 05 February 2016
Can a private company held its AGM via V.Con?
CS Divesh Goyal
(Practicing Compnay Secretary)
(50220 Points)
Replied 08 February 2016
No AGM cant held through Video Confrencing.
umesh vyas
(B.Com., LL.B., A.C.S. )
(210 Points)
Replied 08 February 2016
I solicite Divesh Goyal's views.
Members in remote place have option for evoting.
Regards,
Umesh Vyas
Pallavi Moonka
(company sectretary)
(112 Points)
Replied 09 February 2016
The following is a Question from the FAQ on the Companies Act 2013 released by ICSI in August 2014.
19. According to section 103 of Companies Act, 2013, in case of a private limited company, 2 members personally present shall be the Quorum. If Quorum is not present within half an hour from the time appointed for holding a meeting, then the meeting shall stand adjourned, and if at the adjourned meeting also, Quorum is not present, the members present shall be the Quorum. If the private company has only 2 shareholders and out of these, if one cannot attend the AGM then according to above, whether one person attending the adjourned AGM, would be taken as quorum?
No, one person cannot form quorum of an adjourned meeting. Please refer to Department of Company Affairs’ (now Ministry of Company Affairs) Letter No. 8/16(1)/61-PR dated May 19,1961 wherein the views of the Department on this issue were also that a single person cannot by himself constitute a quorum at the adjourned AGM. However, if the other person attends the meeting through video conferencing, then he will be counted for the purposes of quorum.
Please share your views on the same.
Ram Kumar
(188 Points)
Replied 09 February 2016
Dear Pallavi,
As per the Secretarial standard SS-2(Regarding General Meetings)
Quorum for the private company is, two Members personally
present. Where the Quorum provided in the Articles is higher than that provided
under the Act, the Quorum shall conform to such higher requirement.
Members need to be personally present at a Meeting to constitute the
Quorum.
Regards.
CAclubindia
