Question
Consider the following statements regarding the Annual
General Meeting under Section 96 of the Companies Act, 2013: Statement 1: Every company must hold an Annual General Meeting in each financial year within 6 months after the close of financial year. Statement 2: The AGM must be held at the registered office of the company or such other place as directed by the Registrar. Statement 3: A company can conduct an AGM entirely through electronic means (virtual AGM). Statement 4: The company must give members at least 14 days' notice before the AGM. Which statements are correct?Solution
Section 96 prescribes AGM requirements. Statement 1 is correct—the 6-month deadline is mandatory. Statement 3 is correct—as per amended provisions and circulars, companies can conduct AGM through electronic means. Statement 4 is correct—at least 14 days' notice (or 21 days for listed companies) is required. Statement 2 is partially correct but overstated—the AGM must generally be held at the registered office, but the Registrar's permission is not always required for alternative venues if statutory conditions are met; section 96 provides flexibility within statutory limits. Statements 1, 3, and 4 are correct.
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