Private company
This query is : Resolved
27 July 2012
No.
U/s 166(2) of the Companies Act.
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 situated.
U/s 166(2) of the Companies Act.
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 situated.
27 July 2012
But there is an exception:
By virtue of the provision in clause (b) of second proviso to Section 166(2), a private company which is not a subsidiary of a public company may in like manner and also by a resolution agreed to by all the members thereof, fix the time as well as the place for its annual general meeting.
By virtue of the provision in clause (b) of second proviso to Section 166(2), a private company which is not a subsidiary of a public company may in like manner and also by a resolution agreed to by all the members thereof, fix the time as well as the place for its annual general meeting.
27 July 2012
AGM of any Company be it private or public cannot be held in a place other than registered office or any other place where registered office is situated.
So the answer to your query is NO.
So the answer to your query is NO.
30 July 2012
Charu Ji kindly refer clause (b) of Sec 166(2). I think it allows a private company which is not a subsidiary of a public company, by a resolution agreed to by all the members thereof, fix the times as well at the place for its annual general meeting.
Please correct me if i have got it wrong.
Please correct me if i have got it wrong.
30 July 2012
Sanjay Sir,
As per my Understanding Section 166(2)(b) of the Companies Act states that private company can also fix time and place of the subsequent general meeting in the AGM like public company can do as stated as in Section 166(2)(a).
Moreover AGM can only be at the registered office of the Company or any place , town where registered office is situated.
Hope i could clear my point.
As per my Understanding Section 166(2)(b) of the Companies Act states that private company can also fix time and place of the subsequent general meeting in the AGM like public company can do as stated as in Section 166(2)(a).
Moreover AGM can only be at the registered office of the Company or any place , town where registered office is situated.
Hope i could clear my point.
30 July 2012
Charu Ji section 166(2)(a) only allows public ltd company to fix the time and date, not the place. Place can only be fixed in case of private limited company subject to consent of all the members.
Kindly check and confirm.
Kindly check and confirm.
30 July 2012
Sir, thats true in clause 166(2)(a)the public company can decide on time and date whereas in section 166(2)(b), the private Company through its members can decide the time, date as well as place.
But now where it is mentioned that place for holding AGM can be decided other than the place of registered office.Not even in Secretarial Standards of General Meeting.
But now where it is mentioned that place for holding AGM can be decided other than the place of registered office.Not even in Secretarial Standards of General Meeting.
30 July 2012
I think exception is given vide clause b to section 166(2).If this not be the case then why public ltd company not allowed to fix place and limited company has been allowed to fix the place. If clause b is not giving exception to sec 166(2) then there is no relevance of clause word 'place' in clause b.
Good confusion.
Please also see discussion from below link--
http://www.linkedin.com/groups/Can-private-company-hold-AGM-118097.S.55267914
Good confusion.
Please also see discussion from below link--
http://www.linkedin.com/groups/Can-private-company-hold-AGM-118097.S.55267914
30 July 2012
Sir i have gone through the link,
seems this issue has been unresolved there also.
But i see no point to convince myself that private company can hold AGM in foreign countries.There is no clarification/circular to clear the view.
seems this issue has been unresolved there also.
But i see no point to convince myself that private company can hold AGM in foreign countries.There is no clarification/circular to clear the view.
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