Parmod Agarwal (Assistant Manager) (394 Points)
12 January 2010Dear Sir,
on 17th September every year our Company has declared as holiday on
account of Vishwakarma Pooja & our all office and factory plant were closed
on 17thSept,09. But our company has hold AGM on 17th September,2009.
is it possible that AGM can be hold on holiday because As per Act AGM
can be hold on the working day .
Please Advise.
Thanks
Parmod
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 12 January 2010
| Originally posted by : Parmod Agarwal | ||
 |
Dear Sir, on 17th September every year our Company has declared as holiday on account of Vishwakarma Pooja & our all office and factory plant were closed on 17thSept,09. But our company has hold AGM on 17th September,2009. is it possible that AGM can be hold on holiday because As per Act AGM can be hold on the working day . Please Advise. Thanks Parmod |
 |
as per Sec 166 : AGM must be held on the day WHICH IS NOT A PUBLIC HOLIDAY.
in ur case its not a public holiday.. so the AGM is valid..
Vivek
(Finally passed CA Final...!!!!!)
(1097 Points)
Replied 12 January 2010
Yes... Adarsh is right.... but hwat if Vishwakarma pooja is a holiday in a particular state...?
Aman Jain
(Company Secretary in Practice)
(165 Points)
Replied 13 January 2010
Dear all,
plz check the sec. 2(38) definition of public holiday.
with warm regards,
Aman Kumar Jain
AMAN JAIN & ASSOCIATES,
COMPANY SECRETARIES
NEW DELHI
Mob. No. +91.97174.900.58
+91.93137.82.760
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 16 January 2010
Section 2(38)
"public holiday" means a public holiday within the meaning of the Negotiable Instruments
Act, 1881 (26 of 1881);
Provided that no day declared by the Central Government to be a public holiday shall be deemed
to be such a holiday, in
relation to any meeting, unless the declaration was notified before the issue of the notice
convening such meeting;
NAGABHUSHAN KONDAPALLI
(SR.MANAGER - FINANCE)
(23 Points)
Replied 04 February 2010
If AGM of a company is held on a public holiday and appointed directors in such meeting. Whether such appointment is valid?
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 04 February 2010
No, the appointment will not be valid.
Since the meeting held on public holiday is not valid therefore any business transacted will also not be valid.
NAGABHUSHAN KONDAPALLI
(SR.MANAGER - FINANCE)
(23 Points)
Replied 04 February 2010
Thank you for ur response.
can pl. you cite any provision or judgement
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 04 February 2010
Agree with Mitali.
No need to search any case law or clarification for such kind of plain interpretation.
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 06 February 2010
Yes, section 166 is very clear in this regard that AGM must be held on the day that is not a public holiday.
CAclubindia
