Shorter notice for EGM

[Chandru]

Dear All,

As per the Act , the statutory limit for shorter notice for calling EGM
is 95%. Can a pvt co make it less than 95% in its AOA?

Thanks in advance

Regards

chandrashekhar

[nishi jain]

in my view sec 9, of Companies Act, 1956 to overide MoA, Aoa

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[Kartheek C.N.]

Yes Chandru,

As per Section 170(1) (ii) shall, unless otherwise specified therein or unless the articles of the company otherwise provide, apply with respect to general meetings of a private company which is not a subsidiary of a public company.

My opinion on the same is that the Private Company can provide <95% of members approval for conducting an EGM.

Learned members views are solicited.

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C.N.Kartheek
karth...@gmail.com

[R V Seckar]

Dear Mr. Kartheek,
Section 171(2) 

(i)       in the case of an annual general meeting, by all the members entitled to vote thereat; and

subection (ii) states that in case of any other meeting , 95% of the members will be constituting a valid quorum which includes the extraordinary general meeting.

Thus , in case of an EGOM , if 95% of members consent for a shorter notice , then it will be regarded as a valid one.

Regards

R.V.Seckar

R.V.Seckar

Mobile- 09848915177

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[Chandru]

Dear All,

Thanks for the replies.

Kartheek:

In my opinion , the minimum statutory limit itself is 95% than if the AOA of Pvt co provide it less 95% , it would override the provisions of the Act under section 9 of the Act.

The section 170 says the Pvt co can have their own Articles but how can such articles be more liberal than the Act?

Regards

Chandrashekhar

[MOHIT SALUJA]

I want to ask one more thing that can EGM be held with shorter notice of one day. Means we got teh approval from all the shareholders to conduct EGM tomorrow. Can it happen?
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Regards,
Mohit Saluja
Company Secretary
9914558709

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[R V Seckar]

Why not if you get the approval of all the shareholders.

 

 

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[VIKAS GUPTA]

Yes, it can happen...

You can convene the EGM next day with a shorter notice of one day...

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THANKYOU
CS VIKAS GUPTA
Assistant Company Secretary
Havells India Limited
9953620278
http://www.vikas1052.blogspot.com/

[Jayashree Chandrasekaran]

If you can get the signatures of the shareholders it can be conducted
the same day of BM also
Jayashree

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