Egm for a indian co. 100% subsidiary of foreign co.

Others 838 views 1 replies

Ours is a indian company  having 100% shares of a foreign company.  In Indian company 1 is Indian director and 2 are foreign directors.

After AGM held in september 2011 - statutory auditor send resignation in December 2011. 

Now, question is where to conduct EGM (India OR Foreign country) for appointment of new statutory auditor,  as 100% stake is of a foreign company ?

Replies (1)

There is no restriction in the Companies Act 1956 that EGm is to be held in the RO or in the city/town/village where the RO is situated.

You can hold the EGM out of India. This is feasible also as the shareholders are non residents.

Do check your AOA if there is any provision about holding of EGM in India.

Regards,


CCI Pro

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