 Coming together of at-

least ;

 To transact [or]
;

 For a .
 Things To Be Discussed in a Meeting;
 Before Meeting, Draft Agenda should be prepared;
 Draft Agenda should include;
 Purpose of the meeting;
 Expected Outcome;
 Time Allocated to each item;
 List of Attendees;
 List of Supporting Documents.
 Meetings of Meetings of Meetings of
Board Meetings Shareholders Debenture Creditors
Holders

AGM EGM Class Meetings

A meeting of the board of directors of a company at which the
policy of the Company and major decisions as to its future
actions are discussed.

• Within 30 days from the date of incorporation.

First Meeting

• Minimum 04 within a year.

Subsequent Meetings • No gap more than 120 days between two meetings

• 07 days prior notice to every Director

Notice
Annual General Extra Ordinary
Meetings General
Meetings Class Meetings
[u/s 96] [u/s 100]
 These meetings are called
from time to time where
A Company issuing the interests of Debenture
debenture may Holders are involved at
provide for the the time of reconstruction,
holding of meetings re-organization ,
of the Debenture amalgamation or winding
Holders. up of the company.

Meetings of the All the matters related to

Debenture Holders holding, conduct and
are held according proceedings of the
to the conditions meetings of the Debenture
contained in the Holders are normally
Debenture Trust specified in the Debenture
Deed. trust deed.
 When the Company wants
to make an or
with the
Creditors.
To seek approval of
Creditors for
or
of Company.

To seek consent of such

Creditors for of
Company.
Board of Shareholders Tribunal
Directors
 Limited Limited
Company Company

05 Members 15 members 30 members

personally present personally present personally present 02 members
personally
present
 Properly
the meeting

Prevent Make sure all

and are
followed
Roles

Making sure that Taking up the

every person gets an to be discussed in
the Meeting
 Voting by

Types of Voting Voting by

Voting
 & Should be
summary of the kept at In the manner
of the proceedings Passed
Meetings
 Each Year

of
On any HIGH
, between between two
LIGHTS Meetings

from the end of

Financial Year
Consideration Declaration Appointment Appointment Co.
of of of of Report
 File
with the
Registrar

Submit the File the

of
appointed
Director

Submit Filling of
Resolution for
 of Companies
Act, 2013

Any General
Meetings
is an
EGM
Who??
 Held by
Shareholders of

When there is a
of
Shareholders

is
needed
Shaky Commodities Private Limited could not hold its 10th
annual general meeting for the year 2016 by 30th September,
2016. The company sought extension of time for holding the
AGM from the Registrar of Companies but failed to hold the
meeting within the extended time too. Instead, it held the
meeting on 31st March, 2017 and passed resolutions thereat.
Certain shareholders have challenged the validity of these
resolutions. Referring to the provisions of the Companies Act,
2013, examine whether the contention of the shareholders shall
be tenable. (June 2017)
 U/s 96: an AGM should be held at a date earliest of the following dates:
a) Within 6 months from the end of financial year b) Gap between two AGM should not be more than 15 months Also 2nd or
Subsequent AGM can be extended by ROC upto a maximum period of 3 months.

If default, any member may make application to NCLT. Such directions may include a direction that one member of the company
present in person or by proxy shall be deemed to constitute quorum for the meeting.
The Company and every officer of the Company who is in default shall be punishable with fine which may extend to Rs.1,00,000/- and
in case of continuous default with a further fine which may extend up-to Rs.5,000/- for every day during which such default continues.
However, the above situation is relating to holding of AGM after due date by the company themselves, which is not covered by above
Section 96.

Hence, applying the above case law judgment in the given situation, we can conclude that AGM held after the due date and
extension granted is valid in law and hence, all the resolutions passed at the meeting are valid. However, company and directors
shall be liable for action as provided in Section 99 of Companies Act, 2013.
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