AGM regarding

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2010 I need to clarify onething regarding conduct AGM.M/s/ ABC Pvt Ltd finished the all the formalities related to audit.But it has to to conduct the AGM in India.But all the shareholders & directors are foreigner.

Is it possible to conduct an AGM in India through Teleconference if all the Share holders cum Directors of a Pvt Ltd are foreigner?
Is it possible to conduct an AGM through Proxy(for All members)?

Rasesh

Rasesh (Expert)
Follow

09 June 2010 Answer is - not possible for both the questions.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

09 June 2010 No Not possible at all....
1st of all teleconferencing is not recognized.
Secondly for a valid AGM quorum is required to be personally present and not through proxy. (U/s 166)

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2010 Thanks for your reply.By the meantime I need to clarify one morething.

Is it Possible to hold the AGM otherthan Regd Office within India?

Is it Possible to hold the AGM Outside India, When a company registered in India?

Pl reply to the above questions.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

10 June 2010 Every annual general meeting shall be called for a time during business hours, on a day that is not a public holiday, and shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situate.(U/s166 of The Comapanies Act, 1956)

Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2010 Thanks for your reply.