General

Difference Between Annual General Meeting (AGM) and Extraordinary General Meeting (EGM)

Difference Between Annual General Meeting (AGM) and Extraordinary General Meeting (EGM)

Another difference between an annual general meeting and an extraordinary general meeting is that an annual general meeting can only be held during business hours and not on a national holiday, while an EGM can be carried out on any day including holidays.

  1. What is the difference between annual general meeting and extraordinary general meeting?
  2. Can AGM and EGM be held on same day?
  3. Who can call an extraordinary general meeting?
  4. What are the features of extraordinary general meeting?
  5. What do you mean by extraordinary general meeting?
  6. How do you call an extraordinary general meeting?
  7. What happens if AGM is not held?
  8. Can AGM called shorter notice?
  9. Can 2 AGM be held on same day?
  10. Can members call a general meeting?
  11. Can a minority shareholder call a meeting?

What is the difference between annual general meeting and extraordinary general meeting?

Difference Between AGM and EGM: Members of a company or the directors of a company can exercise their powers and can bind the company only when they act as a body at a validly convened and held meeting.
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Difference Between AGM and EGM.

AGMEGM
AGM cannot be held on requisition by membersEGM can be held on requisition by members
•3 февр. 2021 г.

Can AGM and EGM be held on same day?

There is no law prohibiting you to hold EGM and and AGM on same date.

Who can call an extraordinary general meeting?

Who can Call for an EGM. The members/shareholders of a company can call for an extraordinary general meeting. However, only certain members with a significant stake in the company are allowed to call for an EGM. They are listed in the Companies Act,2013 as follows.

What are the features of extraordinary general meeting?

Features of an EGM

What do you mean by extraordinary general meeting?

An extraordinary general meeting (EGM) refers to any shareholder meeting called by a company other than it's scheduled annual meeting. The extraordinary general meeting is utilized to deal with urgent matters that come up between annual shareholders' meetings.

How do you call an extraordinary general meeting?

An extraordinary general meeting can be called by either a:

  1. committee member (if approved by the majority of voting committee members)
  2. written request signed by at least 25% of lot owners or their representatives.
  3. person authorised by an adjudicator's order.

What happens if AGM is not held?

Consequences and Penalty for Default in Holding an AGM

If the company further defaults in holding a meeting in accordance with the directions of the Tribunal, the company and every officer of the company who commit the default shall be punishable with a fine of up to Rs 1 lakh.

Can AGM called shorter notice?

Yes, AGM under the Companies Act, 2013 can be called at shorter notice provided that; The consent in writing or electronic mode is received from not less than ninety-five per cent of the members entitled to vote at the meeting. The number of shares held by each member has no significance here.

Can 2 AGM be held on same day?

Yes Two AGM can be held in the same day i.e in the case when it has not done his AGM of previous year or of some other earlier year. Moreover the Act does not prohibit from conducting 2 AGM in a day.

Can members call a general meeting?

A similar power exists for shareholders to call and hold a meeting. Section 249F of the Corporations Act provides that members with at least 5% of the votes that may be cast at a general meeting may call, and arrange to hold a general meeting.

Can a minority shareholder call a meeting?

A general meeting can be called by shareholders provided they make up five per cent of the voting rights of the company. This means that in some circumstances minority shareholders can call such a meeting without the backing of the company board, or the other shareholders, to make themselves heard.

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