sec 169(6)

Meetings 1213 views 2 replies

When requistionist can themselves call EGM?

I have little bit confusion while studying this section.

Replies (2)

u just tell na

what is the confusion?

 

Any one or more of the requisitionist(s) satisfying the following criteria can himself/themselves hold an EGM.
 
A) In case of a company having a share capital :
 
Condition  - Representing a majority in value i.e. 51% (or more) of the paid-up share capital held by the requisitionist(s)    OR Representing 10% (or more) of the paid-up share capital of the company carrying voting rights in regard to the subject-matter of the resolution which is intended to propose at the requisitioned meeting,  whichever is less
 
B) In the case of a company not having a share capital
 
Condition: - Representing 10 % (or more) of the voting power in regard to the subject-matter of the resolution which is intended to propose at the requisitioned meeting.
 
A meeting called by the requisitionist(s) himself/themselves must be called in the same manner, as nearly as possible, as that in which extraordinary general meetings are called by the Board of directors.
 
WHEN REQUISITIONIST CAN THEMSELVES CALL EGM, depends on circumstances of each cases. On the basis of decided case, it was held that, requisitionist can call EGM ,
1. When Board of a company wrongfully refused to convene a meeting
2. Removal of existing directors.
3. Recovery from the chairman of money alleged to have been lost to the company by reasn of illegal increase in the number of members.
 
Hope your confusion is removed.
 
 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details