How much notice do you have to give for an AGM?

Private company: A private company can hold an AGM by giving notice of at least 14 days to its members. The company’s articles of association may require a longer period of notice. Non-traded public company: A public company (that is not a traded company) can hold an AGM by giving 21 days’ notice to its members.

What is the notice period for a general meeting?

14 days
Notice of general meetings (sec307 – sec310) The minimum full period of notice for all meetings is 14 days, even if a special resolution is to be proposed, except for the AGM of a PLC, which is 21 days. The company’s articles may require a longer period.

What is a AGM notice?

An AGM is a meeting of members of a company at which the members can ask questions and get information about the company. A company must hold an AGM every calendar year.

What should an AGM notice include?

Notice of meeting Produce a notice giving details about the AGM and mail all your members. This should include date, time, duration, venue, and information about the elections of officers. You could include the whole agenda or just highlight one or two items.

How do I write my AGM draft notice?

“Resolved that pursuant to the provisions of Section 139 of the Companies Act, 2013 and other applicable provisions, and rules made thereunder as amended from time to time, [Name of Chartered Accountant / Name of Firm] having [Membership Number / Firm Registration Number] be and is hereby appointed as statutory auditor …

What is the main purpose of an AGM?

The main purpose of an Annual General Meeting (AGM) is to allow the members of the company to ask questions. Issued raised at an AGM include: Performance of the company.

Who gives notice for a General Meeting?

Notice of a general meeting Private company: A private company can hold any general meeting by giving notice of at least 14 days to its members. The company’s articles of association may require a longer period of notice.

What is the minimum notice for a meeting?

Giving 24 to 48 hours’ advance notice of scheduled employee meetings is sufficient to ensure you avoid unemployment compensation liability in the event employees choose to ignore attendance requirements.

Is an AGM a legal requirement?

There is now no statutory requirement for a private company to hold any general meetings, not even an Annual General Meeting. Some companies’ articles will require them to hold an AGM and any such provision will continue to be binding on the company until the articles are amended.

How do you hold virtual AGM?

Smooth sailing during a virtual AGM

1. Hold a full dress rehearsal prior to your annual general meeting with all hosts and speakers present.
2. Have a backup solution in place.
3. Advise participants of the backup plan in your Notice Of Meeting and subsequent follow-up emails.

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.

How many days do you have to give notice of AGM?

The Constitution will usually prescribe the time period in which notice of an AGM is to be given. The standard number of days is 21 or 28 but sometimes, depending on the nature of the organisation, it may be up to 45 days. Notice periods are critical and must be observed and adhered to.

How long does it take to convene an AGM?

When convening an AGM, you must send a written Notice of the AGM to all members. The minimum notice period is 14 days, though the Constitution may provide for a longer period of notice. The notice period can also be shortened, with the agreement of all the members entitled to attend and vote.

When do shareholders get notice of annual general meeting?

According to the Companies Act, 2014 it is a legal requirement that all shareholders of a company should receive the notice 21 days prior to an upcoming AGM regarding the date, time, location and agenda by hand or via post.

Is there a business item on the agenda for an AGM?

There is usually no general business item on the agenda though it can be included to encourage discussion amongst those who have given up their time to attend. The agenda for an AGM can sometimes be a very speedy affair especially if there are no or few elections.