Smruti (CA) (183 Points)
27 September 2010
Company law doubt : for AGM time duration is calculated from original meeting or adjourned meeting? Let me to clarify :-Suppose original meeting was scheduled to be held on 25th December.but it adjourned to 3rd January. When the next AGM falls due?
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 27 September 2010
Calculations should start from January 3rd.
However in any case last date for holding next AGM is September 30 in accordance with section 210 read with section 166. Here in your case section 210 over-rule 15 month limit mentioned in section 166.
Regards
Smruti
(CA)
(183 Points)
Replied 27 September 2010
i am also confused with this sir,actually there was an example that aa AGM convened on 31.12.2001. Adjourned to 31.03.2002.the next AGM held on 28.01.2003.then it is violative of act
Anil Kumar
(looking for the best avenue)
(303 Points)
Replied 27 September 2010
I think calculation should start from 25th December.
Adjournment
Adjournment means suspending the proceedings of a meeting for the time being so that the meeting may be continued at a later date and time fixed in that meeting itself at the time of such adjournment or to decided later on. Only the business not finished at the original meeting can be transacted at the adjourned meeting.
The majority of members at a meeting may move an adjournment motion at a meeting. If the chairman adjourns the meeting, ignoring the views of the majority, the remaining members can continue the meeting. The chairman cannot adjourn the meeting at his own discretion without there being a good cause for such an adjournment. Where the chairman, acting bona fide within his powers, adjourns the meeting as per the view of the majority, the minority members cannot to continue with such meeting and, if they do the proceedings there will be null and void.
An adjourned meeting is merely the continuation of the original meeting and therefore, a fresh notice is not necessary, if the time, date and place for holding the adjourned meeting are decided and declared at the time of adjourning it. If a meeting is adjourned without stipulation as to when it will be continued, fresh notice of the adjourned meeting must be given.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 27 September 2010
| Originally posted by : yagyanseni | ||
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i am also confused with this sir,actually there was an example that aa AGM convened on 31.12.2001. Adjourned to 31.03.2002.the next AGM held on 28.01.2003.then it is violative of act |
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Please tell me what is your financial year i.e. your financial year end date.
December 31 OR March 31 ???
CAclubindia
