regard time place holding rule section case there clarity under
You are correct that Section 96(2) of the Companies Act, 2013 provides for the time and place for holding the Annual General Meeting (AGM) of a company. However, in the case of Extraordinary General Meetings (EGMs), the Companies Act, 2013 and the applicable rules do not provide any specific provisions with regard to the time, day, and place of holding the EGM.
Section 100 of the Companies Act, 2013 provides that the Board of Directors of a company may, whenever it deems fit, call an EGM, and the provisions of the Act and the articles of the company shall apply to such meetings as they apply to the AGM. Similarly, Section 101 provides that an EGM may also be called by the requisitionists under certain circumstances.
Rule 17 of the Companies (Management and Administration) Rules, 2014 also does not provide any specific provisions regarding the time, day, and place of holding an EGM. However, it provides for the manner in which the notice of the meeting should be given, the contents of the notice, and the time period for giving the notice.
Therefore, it is generally left to the discretion of the Board of Directors to determine the time, day, and place of holding an EGM, based on the circumstances and the urgency of the matter to be discussed in the meeting. The notice of the meeting should be given in accordance with the provisions of the Companies Act, 2013 and the applicable rules, and it should clearly specify the time, day, and place of holding the meeting.
As per Secretarial Standard on General Meetings (SS-2), issued by the Institute of Company Secretaries of India (ICSI), the notice of an EGM should specify the date, day, and time of the meeting, and the same should be held during business hours, that is, between 9 a.m. and 6 p.m. on any working day that is not a National Holiday.
However, if the Board of Directors deems it necessary to hold the meeting at a place other than the registered office of the company, the notice should specify the complete address of the place where the meeting is to be held.
Therefore, the Secretarial Standard on General Meetings does not provide any specific provisions with regard to the time, day, and place of holding an EGM, but it requires that the notice of the meeting should specify the date, day, and time of the meeting and the complete address of the place where the meeting is to be held, if it is to be held at a place other than the registered office of the company.
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Hi Mahima
As per draft Secretarial Standard on General Meetings (SS-2), general meeting (including EGM) shall be called during business hours i.e. between 9 a.m. and 6 p.m. and on a day that is not a National Holiday. A meeting called by the requisitionists shall be convened only on a working day. Annual General Meetings shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated whereas other general meetings may be held at any place within India. As per explanation to Rule 17(2) of Companies (Management and Administration) Rules, 2014. a meeting called by the requisitionists shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated.