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PROCEDURE FOR CALLING OF ANNUAL GENERAL MEETING

Corporate Laws / Banking / SEBI - By: - Mr.M. GOVINDARAJAN - Dated:- 4-8-2017 - Annual General Meeting Section 96 of the Companies Act, 2013 provides that every company other than a One Person Company shall hold a general meeting every year as its annual general meeting. This meeting is in addition to any other meetings conducted by the Company. More than fifteen months shall not lapse between the date of one annual general meeting of a company and that of the next. The first annual general mee .....

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company is to convene annual general meeting by 30th September, 2017 which is six months from the close of the financial year 2016 - 17. If the annual general meeting could not be conducted by 30th September, the Registrar may, for any special reason, extend the time within which any annual general meeting, other than the first general meeting, shall be held by a period not exceeding three months. Every annual general meeting shall be called during business hours, between 9 a.m., and 6.00 p.m., .....

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he Central Government. Power of Tribunal to call for annual general meeting If the Board fails to convene its Annual General Meeting in any year, any Member of the company may approach the prescribed authority, which may then direct the calling of the Annual General meeting of the company. Section 97(1) provides that if any default is made in holding the annual general meeting of a company under section 96, the Tribunal may, notwithstanding anything contained in this Act or the Articles of the C .....

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e company under this Act. Rule 74 of National Company Law Tribunal Rules, 2016 provides that an application under section 97 for calling or obtaining a director to call the annual general meeting of the company shall be made by any member of the company in NCLT - 1. The following documents are to be filed along with the application- Affidavit verifying the petition; Bank draft evidencing payment of application fee; Any other relevant document. The fee payable is ₹ 1,000/- The Tribunal, aft .....

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ncorporated on 22.01.2011 having its registered office at Surat, Gujarat. The petitioner was holding 20,000 shares of the respondent No. 1 company and also one of the directors of the said company. Because of the dispute among the directors, the audit as well as the annual general meeting could not be conducted during the period 2015. The last annual general meeting was held on 30.09.2014. The respondent company should have held its annual general meeting on or before 30.09.2015. Till date of fi .....

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pta before the Company Law Board which was dismissed on 11.12.2015. Against this order appeal was filed by Shri Chandrasekhar Gupta, Director and brother of the petitioner. Shri Shyamsundar Gupta, father of Shri Pawan Kumar Gupta and Shri Naman Gupta, son of Shri Pawan Kumar Gupta were appointed as additional directors of the respondent company on 24.11.2015. The order dated 07.01.2016 of the High Court of Gujarat that the dispute is essentially between two brothers representing the respective s .....

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