provisions of Section 100 of Companies Act, 2013. #EGM

Provisions Related To Extra Ordinary General Meeting/ Class Meeting ( Section 100)

Important Concepts:-

1. The Board of Directors may call an Extra Ordinary General Meeting,
whenever they deem fit ; OR

2. At Requisition made by  Members Holding at least  1/10 of paid up share capital or voting rights.

3. Members who make Requisition for calling EGM must disclose the reasons of calling EGM.

4. Board Of Directors should take steps with in 21 days of receipt of such requisition  so that meeting is being conducted with in 45 days failing which members who make requisition may themselves call the meeting with in 3 months.

5. Reasonable Expense Incurred by requisitionists in calling a meeting shall be reimbursed by  the company to the requistionists and amount so paid shall be deducted from the remuneration payable to the directors who make default in calling the meeting.

6. Provided that an EGM of the company other than of the wholly owned subsidiary of a company incorporated outside India shall be held at a place with in India.

NOTE :- All these days are counted from the date of written request made by members.