Meetings

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. 

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.