Failure to give agm notice

Meetings 5264 views 6 replies

Can anyone tell me what is the panelties or consequences if in a private limited company, Board indvertently forgot to send AGM notice to one of the 4 shreholders.????

 

Urgent

thanks

 

CA vidya nagvekar

Replies (6)

if default is made in holding a meeting of the company in accordance with section 166 the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [fifty thousand rupees] [and in the case of a continuing default, with a further fine which may extend to [two thousand five hundred rupees] for every day after the first during which such default continues].

 

Originally posted by : Charu Srivastava


if default is made in holding a meeting of the company in accordance with section 166 the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [fifty thousand rupees] [and in the case of a continuing default, with a further fine which may extend to [two thousand five hundred rupees] for every day after the first during which such default continues].



 

If company fails to Hold Annual General Meeting, then what Charu Srivastava saying is Apllicable...

But as per Sec.172 of Company Act, If company  INTENTIONALLY  fails to serve AGM notice to its one or more of Shareholders, then It Invalidates the Proceedings of the AGM. And If company  ACCIDENTALLY  fails to serve AGM notice to its one or more of Shareholders, then It doesn't  Invalidates the Proceedings of the AGM...

In above case, as it is inadvertently forgotted to serve notice, it doesn't invalidate the meeting... Provided the Company Secretary or Board must acknowledge that it is unintentional...

Further, they the consent of all shareholder for the same is not required???

If it is Unintentional, and meeting is valid, not required any Consent... If it is Intentional, and to make its current or next meeting a valid one, consent of Shareholders are required to be Obtained for the same...

Whats the ground of proving it unintentional??? Whether any one can say hat he/she forget to give notice???

 

 

Onus of proof that notice was not givne is always on the person who claims it.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register