1) Sunday is not a public holiday. Sunday had not been notified by Central Government as Public holiday. What is there in the Negotiable Instrument Act is least important for Companies Act, 1956. Even, Companies Bill, 2012 specifically mentioned that AGM can’t be held on a National Holiday notified by Central Government.
2) Attention is invited to letter no 8/5/1669/65-PR dated 21-1-1963, which does not make it absolute compulsory for every company to held AGM on a day which is not a public holiday. Kindly refer proviso 2 to sec 166, which enables a company to fix time and date of AGM. Companies which followed the procedure prescribed by proviso 2 to sec 166 can held AGM on Sunday.
3) For adjourned AGM, there is separate circular, which enables to hold adjourned AGM on Sunday too.
CA Nitesh More
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CAclubindia
