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Indian Company Law - Extraordinary General Meeting
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Indian Company Law - Extraordinary General Meeting

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Questions and Answers

What is the timeframe within which the Board must call a meeting in response to a valid requisition?

  • Three months
  • Forty-five days (correct)
  • Sixty days
  • Twenty-one days
  • What happens if the Board fails to call a meeting within the required timeframe?

  • The directors are suspended
  • The requisition is considered invalid
  • The meeting is automatically cancelled
  • The requisitionists can call the meeting themselves (correct)
  • How must a meeting called by the requisitionists be conducted?

  • Through a video conference
  • In the same manner as a meeting called by the Board (correct)
  • In a manner decided by the requisitionists
  • Through a written resolution
  • Who is responsible for reimbursing the reasonable expenses incurred by the requisitionists in calling a meeting?

    <p>The company</p> Signup and view all the answers

    What happens to the sums reimbursed to the requisitionists by the company?

    <p>They are deducted from the directors' fees</p> Signup and view all the answers

    What is the provision for calling an extraordinary general meeting of a company?

    <p>The Board can call a meeting whenever it deems fit.</p> Signup and view all the answers

    Who can requisition the Board to call an extraordinary general meeting of a company?

    <p>Shareholders holding at least one-tenth of the paid-up share capital.</p> Signup and view all the answers

    What is the requirement for a requisition made under sub-section (2)?

    <p>It should be signed by the requisitionists and sent to the registered office.</p> Signup and view all the answers

    What is the purpose of a requisition made under sub-section (2)?

    <p>To set out the matters for consideration of the meeting.</p> Signup and view all the answers

    Where should an extraordinary general meeting of a company be held?

    <p>At a place within India.</p> Signup and view all the answers

    Study Notes

    Calling an Extraordinary General Meeting

    • The Board of Directors of a company can call an extraordinary general meeting whenever it deems fit.
    • An extraordinary general meeting of the company, except for a wholly owned subsidiary of a company incorporated outside India, must be held within India.

    Requisition for Extraordinary General Meeting

    • The Board shall call an extraordinary general meeting at the requisition of:
      • In a company with share capital, members holding at least 1/10th of the paid-up share capital that carries voting rights.
      • In a company without share capital, members holding at least 1/10th of the total voting power of all members with voting rights.

    Contents and Signing of Requisition

    • The requisition must set out the matters to be considered at the meeting and be signed by the requisitionists.
    • The requisition is sent to the registered office of the company.

    Timeframe for Calling a Meeting

    • If the Board does not call a meeting within 21 days of receiving a valid requisition, the requisitionists can call and hold the meeting themselves.
    • The meeting must be held within 3 months of the date of the requisition.

    Conducting the Meeting

    • A meeting called by the requisitionists must be conducted in the same manner as a meeting called by the Board.

    Reimbursement of Expenses

    • The company shall reimburse the requisitionists for reasonable expenses incurred in calling a meeting.
    • The reimbursed amount shall be deducted from the fee or remuneration payable to the directors who defaulted on calling the meeting.

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    Description

    This quiz is about the provisions of Indian Company Law related to extraordinary general meetings of a company. It covers the powers of the Board of Directors to call such meetings and the requisites for holding them.

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