Annual General Meeting

In Continuation to the previous post on Annual General Meeting (AGM):

Content of Annual General Meeting

Further, the following documents are also to be sent with the notice calling Annual General Meeting:

– Copy of Annual Accounts / Financial statements of the Company;

– Directors’ Report and its annexures representing Company’s position for the given financial year;

– Auditors’ Report and its annexures and

– Any other required documents.

Matters to be discussed at the general meeting:

Generally, the matters to be discussed at the annual general meeting by the company are as below:

– The declaration of dividend among shareholders, if any,

– Consideration of Annual accounts;

– Discussion of the Director’s report and the Auditor’s report;

– Appointment and fixing of the remuneration of the Statutory auditors;

– Ratification of the Director’s actions;

– Election of the board of directors;

– Appointing replacement directors in place of existing directors retiring;

To address any relevant matter or issue other than the above mentioned, a special notice regarding the issue is to be served to members before the meeting. This is sent with the notice for calling the meeting.

Quorum of the General Meeting:

The Quorum is required to be present within half an hour of the commencement of the meeting.

In Case of Public Company:

If the Number of members as on date of the meeting Quorum
Not more than 1000 5 members personally present
More than 1000 but up to 5000 15 members personally present
More than 5000 30 members personally present

In case of Private Company: At least 2 members must be personally present

However, Articles of Association of the Company can have larger number for quorum requirement provision in itself at the time of the incorporation or else subsequently by alteration.

Adjourned AGM:

According to Section 103(2), if the quorum is not present within half-an-hour from the time appointed for holding a meeting of the company- the meeting shall stand adjourned to the same day in the next week at the same time and place, or to such other date and such other time and place as the Board may determine.

In case, quorum is not present within the half an hour at the adjourned meeting, then the members present shall be the quorum.

As stated in clause 15.6 of Secretarial Standard 2 At an adjourned Meeting, only the unfinished business of the original Meeting shall be considered.

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