Question: Can EGM Be Held On National Holiday?

Is it compulsory for directors to attend AGM?

Yes the AGM can be held without the directors.

Also these directors may send proxies on their behalf where required.

The Companies Act gives out the quorum required i.e.

2 and 5 in case of Private and Public Companies respectively but no mandatory requirement with reference to presence of Directors..

Who can attend annual general meeting?

6. Members’ Rights in an AGM. The members (including shareholders) of the company are entitled to attend and vote at the AGM. Members can cast their votes by a physical ballot or postal ballot or through e-voting.

How much notice do you need to give for an EGM?

As most people are aware, an annual general meeting of a public company must be called by notice of at least 21 days.

Can dividend be declared in extraordinary general meeting?

As per regulations of 2013, Act, “The Company in General Meeting may declare dividend”. As per the Regulation of Article of association, it is not compulsory to declare a dividend in AGM, in case dividend is not declared in AGM then the company can declare a dividend in subsequent EGM.

Does 21 clear days notice include weekends?

As provided in para 1.2. 6 of secretarial standard-2, for the purpose of reckoning 21 days clear notice, the day of sending the notice and the day of Meeting shall not be counted. Further in case the company sends the notice by post or courier, an additional two days shall be provided for the service of notice.

Can EGM be called at shorter notice?

Where if 95% of the voting members’ consent is a given, the EGM can be held at a shorter notice. The following number of members is required for a quorum unless stated otherwise in the Company Article. The shareholders are to give their consent for holding the Extraordinary General Meeting at Shorter Notice.

Can annual general meeting be held on national holiday?

A General Meeting can be held on any day, including a public holiday or on a Sunday, unless such day is a National Holiday. Sub-section (2) of Section 96 of the Act requires the Annual General Meetings to be held during business hours on a day that is not a National Holiday.

Can AGM and EGM be held on same day?

An AGM should be conducted on any day other than a national holiday, in business hours only. As against, an EGM can be carried out on any day including national holiday, and anytime during a day. When Annual General Meeting (AGM) is not called within the stipulated time, penalty up to Rs.

Can general meeting be held through video conferencing?

Section 96 of the Companies Act, 2013 is the governing Section of Calling, manner of conducting and time period of conducting Annual General Meeting. The Section not permitted the Companies to call and conduct the Meeting through video conferencing or other audio-visual means.

Can 2 AGM be held on same day?

Yes Two AGM can be held in the same day i.e in the case when it has not done his AGM of previous year or of some other earlier year. Moreover the Act does not prohibit from conducting 2 AGM in a day.

Which company can held the AGM on public holiday?

Annual General Meeting of a public company cannot be held on a public holiday. Section 166(2) inter alia states that every annual general meeting shall be called on a day, which is not a public holiday.

Is it mandatory to hold AGM through video conferencing?

To add more on the list of facilitating the companies and businesses in India, The Ministry of Corporate Affairs (MCA) has now allowed companies to hold their annual general meeting (AGM) by Video Conferencing (VC) or other audio visual means (OAVM) during the calendar year 2020 amidst the COVID-19 crisis.

When can EGM be held?

An Extraordinary General Meeting (an EGM) can be defined as a meeting of shareholders which is not an Annual General Meeting(an AGM). It is held when some urgent issue becomes about the company arises or any situation of crisis and it requires the input of all senior executives and the Board.

Can EGM be held anywhere?

There is no change in place of holding of AGM or EGM in the Act as against the earlier Act except for private companies to hold the AGM anywhere in India. Companies with majority of members residing outside India requested to consider holding the general meetings abroad. … However, EGM can be held anywhere in India.

Can proxy counted quorum?

Members constituting quorum should be personally present throughout the Meeting. Proxies nominated by individual members are not counted for quorum; however, authorized representative of a body corporate is counted towards quorum.