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Meetings

Aravind Kannan (student) (86 Points)

23 February 2009

If quorum is not present within half an hour of the time for the commencement of the general meeting, it shall be adjourned. It is also said the Chairman may wait for some time more than half an hour to enable the quorum to be present to start transacting the business. Because of this delay if the time of commencement of the meeting corsses the business hours, can the AGM be said to be validly convened? Because one of the requirements of AGM is it should be called for during the business hours of the company.

Readers may please enlighten me on this.

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2 Replies

(Guest)

As per section 166 (2) , the AGM must be called during the business Hour,

(provided that the Central Goverment may exempt any class of company from the provision of sub section.)

So, In any case the meeting not held beyound the prescribed time.

174 (3), If the Quorum not present with in Half an hour , the meeting called upon the requisition of member, shall stand dissolved.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 24 February 2009

Dear Aravind,

First of all if the requisite quorum is not present in the AGM within half an hour of the time for the commencement of the General Meeting the meeting shall be adjourned to next week same day same place and same time.

Further, if we take your opinion to wait for more 30 mintues to enable the quorum, and if the time of business hours passes then also the meeting can be validily held. Bucause when we read the ACT we should be very specific there is written to call the meeting in the business hours not to commence. And the meeting is called during the business hours. so it can be validily held.