Annual Meeting, provided , Subsequent annual general , With subsequent annual general

Any otdler bushiess on agenda except that listed above shall he considered as ..pecial 6usir,e.rs and may also the transacted a! tl.- Annual Meeting, provided appropriate notice has been given it is to be noted that m the case of extraordinary general meetings all bash ss shall be treated as -'special business" [See 173 ( 1)(b)] It's relevant to state that the 'ordinary business' requires an Ordinary resolution while the special business' may require ordinary or special resolution as per Articles or the A Gt A special resolution Is, hGNVeN er, required for and appointment of auditors, although it is an item of ordinary business, in the case of a cor.lpanv in which not less than 25% of the qibscribed share capital is held whether singly or jointly bN a public financial institution or a Govermiient or Central &oNernment or a ny State Govenunent or a natio ahsed ba nil m- a general insurance compar.y (See 221-A?
It may be noted that pi in let e adept p.ivate company ma N retake its own pros isiortsbv its business to be transacted at an annual general meeting Alec I . tlr i (ii]
Other Stt.Ntuton- Reqni lements. The Corr.panies Act, imposes the following obligations on company, public or private, as regards convening of the annual ge.ieral meetings
first annual general meeting of a company must held be within 18 months from the date of its incorporation, and if such a general meetntg is held within that period, it shall not be necessary for the company to hold any annual general meeting in the year of its incorporation or in the following year it may be noted that there can be no extension of period beyond 18 months m case of this meeting even by the RegistMr [Sec. 166(1)]
2 Subsequent annual general meetings must be held each veal within six months of the end of uric cornpany's financial year but the interval between any two general meetings must not be more than ff een months The Registrar may, however, for any speeialreason extend the above time bv a period not exceedfi lgthteenlonths [Scc 166(1)]
In connection With subsequent annual general meetings it is worth noting Stat the holding of an annual general meeting m each calendar year is a statutory- necessity and it is not enough that they are held within fifteen months of each other "There should be one meeting per year and as many meetings as there are years" [Snri Aifeenak sni Mills Co. I td vs. Assistant Registrar of Joint SrocL Company') Further, though the annual general meeting of a company may be adjourned to a subsequent date and the adjourned meeting is to be deemed to be a continuation of the earlier meeti fig,
242 'S: SECRETARIAL PRACTICE
the adjoun.d meetm too mustbe htid vithinf fr.een m en
A copy of Dlrectors' Repon, audited 4nnn,tl Accormts and Auditors Report must be aur, to every such dotme [Sec. 219(1)}. (A specimen form of B at the end of the chapters
The holding of annual gee e,al meeting is also governed by Sections 171 to 186,.vhich conlainpra isions rcliiting to convening and conducting of all types of general meetings under the Act. We shill be discussing these provisimis in the next chapter under the he tdir.g 'Requisites of Valid Meebng.
DEFAULT IN HOl DlNG THE ANNUAi GENERAl MEETING
if a company fails to call an mnnal general meeting within the prescribed time limits, the Compa Board may, on the application of any member of the company, call or direct talc calling of the meeting and give suclt ancillar or consequential directions as it thinks expedient in relation to the calling holdmg and cond of the meeting. The directions titat may be given cthe Company Law Board may incluile a direction teat one member c f tile compa;ry present in person or- b.- prow shall be deernedtoconstiuteameet ng
BOARD'S REPORT OR THE DiRECTORS'REPORT