What happens at an annual general meeting?

What happens at an annual general meeting?

The AGM reviews Standard Chartered’s performance over the past year and gives shareholders the opportunity to ask questions and vote on key issues. These include the approval of the annual report and accounts, the election of directors and the re-election of auditors.

What are the statutory requirements of annual general meeting?

A company must hold its AGM within a period of six months from the end of the financial year. However, in the case of a first annual general meeting, the company can hold the AGM in less than nine months from the end of the first financial year.

What is annual general meeting what type of functions are performed in annual general meeting?

Annual General Meeting is held every financial year and it is mandatory for everyone. In AGM functions like reviewing company account, approving audited accounts, elections, fiscal records of the past year are discussed. Let us discuss requirements and issues discussed under Annual General Meeting in greater detail.

What should be on the agenda of an AGM?

Produce a notice giving details about the AGM and mail all your members. This should include date, time, duration, venue, and information about the elections of officers. You could include the whole agenda or just highlight one or two items.

Can Annual General Meeting be held through video conferencing?

MCA has now said that EGMs can be held through video conferencing or other audiovisual means till June 30 this year, which is a six months extension to the earlier set time limit of December 31, 2020, for this window.

Who can be chairman of Annual General Meeting?

If at any meeting no director is willing to act as Chairperson or if no director is present within 15 minutes after the time appointed for holding the meeting, the members present shall choose one of themselves to be Chairperson of the meeting.

How do you prepare an agenda for an annual general meeting?

The AGM Agenda

  1. Welcome and apologies.
  2. Minutes of previous AGM.
  3. President’s report.
  4. CEO’s report (if applicable)
  5. Presentation of Financial reports.
  6. Constitution amendments (if any)
  7. Elections.
  8. Life Memberships (if any)

Is the proper authority to call annual general meeting?

2) Authority to convene Meeting: The Board of Directors is the proper authority to convene Annual General Meeting.

What is general body meeting?

General Body Meeting is a meeting of shareholders of the company and being the most powerful body of the company, the General Body Meeting takes all the decisions related to the working of the company. These meetings are held annually, therefore the meeting is also called as Annual General Meeting (AGM) of a company.

What constitutes a quorum at a general meeting?

According to Robert’s Rules, the definition of a quorum is the minimum number of voting members who must be present at a properly called meeting in order to conduct business in the name of the group.

Can board meeting be held through video conferencing?

The Ministry of Corporate Affairs has issued a notification to allow board meetings through video conferencing for activities that were earlier restricted for the digital medium, in a move that will ease the burden on companies to hold physical meetings even beyond the pandemic.

Is it compulsory to hold AGM through video conferencing?

As per Para 1 of Circular: Companies whose Annual General Meetings were due in Calendar Year 2020 and whose AGM shall be due in Calendar Year 2021 can hold their Annual General Meeting through Video Conferencing or other audio-Visual means.

Can you be chairman of two companies?

When it comes to corporate governance, there can easily be too much of a good thing. Hence the need for good corporate governance rules to minimise the risks of a problem and help ensure that companies are managed for the benefit of their investors. …

What matters must be discussed at a company’s annual general meeting?

The Annual General Meeting (AGM) is held annually in order to present detailed information about the company’s performance and to deal with matters such as adopting the previous year’s income statement and balance sheet, setting of dividend and its payment, and appointing members of the Board of Directors and the …

What do you call a person who runs a meeting?

chairman. noun. the person who is in charge of a meeting or committee. Many people prefer to say chair or chairperson, because the word chairman suggests that the person in this position is always a man.

Who can attend an annual general meeting?

44) provide that the directors of the company may attend general meetings even if not members of the company. Directors have a statutory right to notice of general meetings: CA 2006, sec310. (c) to be heard at any general meeting which he attends on any part of the business of the meeting which concerns him as auditor.