Hi,
AGM must call by 21 days clear notice prior to date of conducting the AGM,however company can call by shoter notice if all the members who are entitle to voting in the meeting are agrred (i.e.,100% favour).
In the above question:-1)When the approval of the share holders is taken for such shorter notice?
2)If share holder dis agrees what are the relevant consequences?
Hi Prashanth,
The shorter notice can be obtained at anytime before the commencement of the Annual General Meeting.
If any member disagrees, the shorter notice is not valid as there should be approval from every single member of the company.
Regards,
Subbu
| Originally posted by : G.L.Subhramanian | ||
 |
Hi Prashanth, The shorter notice can be obtained at anytime before the commencement of the Annual General Meeting. If any member disagrees, the shorter notice is not valid as there should be approval from every single member of the company. Regards, Subbu |
 |
Completely Agree
Hi,
1.Is it is possible to take approval of the share holders in the AGM itself for shorter notice?
2.How a company can take approval from the share holders if it is to be taken before the AGM for shorter notice?
Hi Prashanth,
If all the members have assented to the shorter notice, the approval of the shorter notice can be read out in the Annual General Meeting.
Anything less than 21 days require shorter notice. So you can obtain the approval from every member within the date of AGM.
Regards,
Subbu
Dear subbu,
thank for rply and u mean to say that in the notice itself we should mention that approval for the shorter notice from each evrey member is required?
Hi Prashanth,
No.. No.. You can send the notice of AGM less than 21 days before date of AGM.
Example:
Date of Board Meeting calling AGM: 26.08.2011
Date of AGM: 30.08.2011
Between 26th to 30th you can obtain approval for shorter notice (Form 22A) from every member entitled to vote. You can also hold the AGM on 30th and in the meeting, you can explain about the shorter notice and produce the shorter notice for inspection for anyone.
Regards,
Subbu
Thanx for the rply.....
Last question there is a company who is conducting the first AGM(as you company cannot get extension for the 1st AGM) and due to some circumstances company unable to send 21 days notice,now it has requested for shorter notice but some members objected.
1.Now how can company conduct 1st AGM?
2.What are the alternatives is company having now?
Hi Prashanth,
If it is a Private Company, the articles of association prescribe the length of notice of the meeting. If articles is silent, then 21 days notice is required. If 100% approval is not obtained for shorter notice, then you cannot hold AGM.
If it is a Public Company, 21 days notice is required. If 100% approval is not obtained for shorter notice, then you cannot hold AGM.
Regards,
Subbu
CAclubindia
