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Place for conducting an EGM

Priya (CS & CA IPCC) (431 Points)

06 April 2010  

Dear all

Can anyone please let me know as to where it has been stated that a company can hold an EGM at a place other than the Registered office of the company? Since, Companies act is silent, is there any case law where the same has been held valid??

Best Regards

Sakshi


 6 Replies

Ankur Garg (Company Secretary and Compliance Officer)   (114654 Points)
Replied 06 April 2010

Nowhere mentioned specifically.

 

Silence of law is enough to establish that EGM can be convened at a place other than Regd. Office. However any contrary view supported by a valid case/clarification is welcome.

Priya (CS & CA IPCC) (431 Points)
Replied 06 April 2010

Thank you, sir for your guidance.

One more thing is section 166(2) proviso states:

" Provided further that-

b) a private company which is not subsidiary of a public company, may in like manner and also by a resolution agreed to by all the numbers thereof, fix the time as well as the place for its annual general meetings.

Does this mean that a private company can hold its AGM at any place outside its registered office??
 

Ankur Garg (Company Secretary and Compliance Officer)   (114654 Points)
Replied 06 April 2010

Originally posted by : Sakshi Sharma

Does this mean that a private company can hold its AGM at any place outside its registered office??
 

 

Simply No.

We can not overrule the main body of a section by the proviso. Main work of proviso is to support/complement the main provision or main body of law/section.

 

If in any manner proviso contradict with main provision than we must consider the proviso as null and void.

 

Wait for other expert opinions.

Priya (CS & CA IPCC) (431 Points)
Replied 07 April 2010

Dear Ankur Sir

Kindly refer to the link of the article supporting the poviso under section 166(2) below by the former President of ICSI:

https://www.financialexpress.com/news/canacompanyholdagmoutsideindia/72733/2

Should we really consider this article as a good reference.

Regards

Sakshi

Ankur Garg (Company Secretary and Compliance Officer)   (114654 Points)
Replied 07 April 2010

To be honest it is a useless article and expression of opinion only. Most importantly we can not use it as an evidence if ROC objected.

Rasesh (CS CWA MBA (Fin) B.Com LL.B (Spl))   (6501 Points)
Replied 08 April 2010

EGM can be held anywhere.

 

AGM for pvt ltd. co. can be held at place other than regd. office. proviso to 166(2) is very clear and all provisos are part of the section only.


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