ESIC returns is required to half yearly. i.e. for the period of April to September by 12th Nove...
Every Public Company or Private Limited Company is required to conduct an Annual General Meeting that provides an opportunity to the shareholders and stakeholders to meet every year and discuss matters relating to the Company, which ensures the protection of the interest of the shareholders.
An Annual general meeting gives a comprehensive view of “what step a company should take to be more successful”, which will help shareholders, members, and the board to decide the future course of action. The annual general meeting must be held on a working day at the registered office of the company.
Exception, in the case of One Person Company
*Here sufficient cause means – Natural calamity/Confiscation of books of accounts.
The notice for general meeting must be sent to the-
at least 21 days before the meeting, along with the annual report of the Company.
Note – Shorter notice with the consent of all the members entitled to vote at the meeting.
Annual General Meeting must be held between 9 a.m. to 6 a.m. i.e. during the business hours.
Note – General Meeting once conducted, may be concluded even after business hours.
A General Meeting must be held on a day that is not a National holiday.
Note – National holiday means a day declared as a national holiday by the Central Government i.e. Republic Day, Independence Day, Gandhi Jayanti.
The meeting shall be held at the registered office of the Company.
However, in the case of Unlisted Company, a general meeting may be held at any place in India, if consent is given in writing or through electronic mode by all the members.
In the case of Government Company – The annual general meeting must be held at its registered office or any other place with the approval of the Central Government.
The meeting can be adjourn for the below-mentioned reasons:
Note – There is no prohibition to hold adjourn meeting on a national holiday, if the meeting is adjourned due to lack of quorum.
Quorum represents the minimum number of members present in the meeting. Unless the articles of the company provide for the larger number, quorum in the general meeting required throughout the meeting.
In the case of Private Company, 2 members shall be the quorum for a meeting of the company. The members shall be personally present.
Every company shall maintain the minutes of every general meeting of any class of shareholders or creditors and every resolution passed by postal ballot and every meeting of its board of directors.
The minutes should be prepared and signed as may be prescribed in the Companies Act 2013 and kept within the 30 days of the conclusion of the Annual general meeting. Also, In case of a resolution to be passed through postal ballot the minutes of the resolution in shall be prepared and kept in the office.
Also, Read: What is the Importance of Minutes of Board Meeting.
Each page of every minute book shall be initialed or signed by the chairman of the meeting within the aforesaid period of 30 days. In case there is no chairman of the board or the death /incapability of that chairman within that period, by a director authorized by the board.