The FAQ reviews which statutory authorities can convene an Extraordinary General Meeting. The insights clarify roles of the Board, requisitionists, directors, and NCLT regarding corporate governance.
Authority to Call General Meetings Under Companies Act, 2013
This FAQ examines the statutory authorities empowered to convene an Extraordinary General Meeting under the Companies Act, 2013. It outlines the conditions under which the Board of Directors, requisitionists, members, and the National Company Law Tribunal (NCLT) can validly step in to ensure that corporate governance is maintained.
The Companies Act, 2013 allows various stakeholders within a company to hold general meetings for the purpose of making critical decisions. For example, the Board can convene such meetings under specified circumstances, while requisitionists can seek a meeting under section 100 if they represent a specified percentage of shareholders.
Understanding the provisions and procedures involved in calling meetings is essential for compliance within corporate governance. Legal practitioners must familiarize themselves with these guidelines to effectively represent or advise their clients.
