Annual general meeting (AGM)

Annual general meeting (AGM)

(1) Every public company shall hold its first annual general meeting within one year after it is permitted to commence its business, and thereafter it shall hold the annual general meeting every year within six months after the expiry if its financial year.

(2) If any public company fails to call the annual general meeting even within three months after the expiry of the time-limit referred to in Sub-section(1), the office may give direction to call the annual general meeting of such company.

(3) If the company fails to hold the annual general meeting even within three months after the receipt of the direction as referred to on Sub-section(2), any shareholder may make a petition, setting out the matter, to the court. Where such petition is made, the Court may either cause to hold the annual general meeting or issue any other appropriate order.

(4) Notwithstanding anything contained in Sub-sections (1) and (2) of section 73, the shareholders present in the general meeting called pursuant to the order of the court under Sub-section (3) shall be deemed to be a quorum.