A Ltd. co. has to pass a resolution which is mandtory to be passed thru postal ballot. Simultaneousely it proposes to held its AGM.
To cut the cost of postal exp. involved in posting P.B. papers (regd. AD) and annual report separately, it proposes to :
1. despatch the annual report and P.B. notice etc. in one envelope., by regd. AD post. because P.B. requiers the documents to be despathced by regd. AD only.
2. to hold the AGM on given date.
3. Since, the postal ballot needs atleast one month time to complete the procedure and receive the reporot from the scrutinizer- to hold a board meeting after the AGM
4. to announce the result in the board meeting and not in the AGM
Is it the right stategy? pl. advise and suggest any other method to save the cost.
Further, is it possible to appoint executive director, with retrospective effect, in the AGM? if yes then what would be his status in the meanwhile, when his term as executive director is over- he will be treated as a director ?
CAclubindia
