ComplianceSupport

Every company needs to follow rules as discussed below while issuing notices of shareholders' meetings

Every company registered under the Companies Act, is required to hold an Annual General Meeting (AGM) within Six Months from the end of the Financial Year. However, a newly incorporated company may hold its Annual General Meeting (AGM) within Nine Months from the end of the first Financial Year. So it is not necessary for the newly incorporated companies to hold their First Annual General Meeting in the year of their incorporation.

Therefore, the companies, other than newly incorporated companies on or after 01.04.2015, are required to hold its Annual General Meeting (AGM) within Six Months from the end of tFinancial Year, i.e., on or before 30.09.2016.

Note that the Gap between two AGMs should not be more than 15 months. The AGM should be called between 9 A.M to 6 P.M on any day which is not a National Holiday at companies Registered Office or within city, town or village where registered office of the company is situated.

For conducting an Annual General Meeting a notice required to be sent to the Shareholders at least before 21 clear days. Every notice must contain Day, Date, Time, and Place of the AGM. As per the Secretarial Standard issued by the Institute of Company Secretaries of India (ICSI), the notice of General Meeting must contain route map of the venue. Such notice can be sent either in writing or through electronic mode.

For General Meeting at Shorter Notice: The General Meeting may be called on the shorter notice, if consent is given in writing or by electronic mode by not less than 95% of the members entitled to vote at such meeting.

Notice to be sent to:

1. Every member, legal representative of any deceased member or assignee of an insolvent member;
2. Auditor or auditors of the company; and
3. Every director of the company.

Notice Must contain: Below mentioned documents to be attached with the notices as and when required

1. Proxy Forms;
2. Closure Period of Register of Members and Share Transfer Book and Cut-off date;
3. Details of Voting and Remote e-Voting facilities;
4. Name and other details of Scrutiniser;
5. Explanatory Statement for each item of Special Business to be transacted;
6. Directors' Report;
7. Auditors' Report;
8. Audited Standalone or/and Consolidated Financial Statements;

What is Special Business: For the annual general meeting, all businesses, other than the followings, transacted there at, are Special Business:

1. Consideration of Financial Statements & Directors’ Report and Auditors’ Report;
2. Declaration of any Dividend;
3. Appointment of Director in place of those retiring;
4. Appointment of, and the fixing of the remuneration of the Auditors;

Note, in case of any other meeting, all business shall be deemed to be special.