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    Minutes of EGM be numbered

    Posted By : Juhee Goyal / Published on : 26-Jul-2022 05:01 AM / View : 1174 / Comment : 4

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    Dear Members!

    For an extra-ordinary general meeting held in a company should
    the minutes of the meeting be accorded serial number ?
    Read more on : numbered minutes

    • Yes, as per the Secretarial Standard 2, serial no. shall be given to each extra-ordinary general meeting held by the company after the secretarial standards came into force from 1st July, 2015.

      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. Explanation to Rule 18 of the Companies (Management and Administration) Rules, 2014, prescribes that the Extra-Ordinary General Meeting should be held at a place within India.

      Thus, an Extra-Ordinary General Meeting should be held only in India though not necessarily within the city, town or village in which the Registered Office of the company is situated. 

      However, Clause 27 of the Companies (Amendment) Bill, 2016 seeks to amend sub-section (1) of section 100 of the Companies Act, 2013 to allow the wholly owned subsidiary of company incorporated outside India to hold its extra ordinary general meeting outside India. As per Clause 27, in section 100 of the principal Act, in sub-section (1), the following proviso shall be inserted, namely:—

      "Provided that an extraordinary general meeting of the company, other than of the wholly owned subsidiary of a company incorporated outside India, shall be held at a place within India." 

      26-07-2022 / 07:45:53 AM
      Reply
      • Clause 17.2.1.1 of SS-2 clearly states that " Minutes of Annual General Meeting shall also state the serial number of the meeting". It does not talk about "General Meetings " or EGM but specifically AGM. So according to me EGMs need not be serially numbered but only AGM. 

        Other's views invited please.

        Atul Vachharajani

        atul.vassociates@gmail.com

        27-04-2024 / 09:11:03 PM
        Reply
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