What is EXTRAORDINARY GENERAL MEETING – companies act 2013 best cs book notes

Posted on 26-03-2016        By ADMIN

What is EXTRAORDINARY GENERAL MEETING – companies act 2013best cs book notes
All general meetings other than AGM shall be known as extraordinary generalmeetings. The Board may call for such type of a meeting as and when required.An extraordinary general meeting also becomes necessary on requisition, onrequisition of a given number of shareholders the directors must forthwith calla meeting. The requisition must be signed by the holders for at least one-tenthpaid-up capital having the right to vote on the matter of requisition.

When a requisition is deposited at the registered office of a company thedirectors should, within 21 days, move to call a meeting and the meeting shouldbe actually held within 45 days from the date of the requisition. In case thedirectors fail to do so, the requisitionists can do so and later ask for theexpenses they have incurred from the company. The requisitionists cannotapproach the CLB under Section 186 for an extraordinary general meeting withoutfirst trying to call a meeting themselves.

Comment :