companies bill 2013 | first annual general meeting | agm | notice for agm | consent for agm | quorum
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Companies Bill 2013 | First Annual General Meeting | AGM | Notice for AGM | Consent for AFM | Quorum | New Companies Act 2013 highlights, Companies Act 2013, MCA Ministry Of Corporate Affairs, Amendment in Companies Act, 1956, Company & Corporate Consultancy Firm | Multi-discipline, Full Service International Corporate Law Firms based in New Delhi and Having Association with Foreign Law Firms | We are Reliable, Knowledgeable and Hands-on | Our expertise lies in services involving Company Registration in India, FEMA Matters, Advice on Joint Ventures, LLP Registration, Import Export Code, International Taxation, Management Consultancy and Company due diligence Services etc.TRANSCRIPT
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Salient Features ofCompanies Bill, 2013
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Basic Differences Between
The Companies Act, 1956 The Companies Bill, 2013
Main Changes in
Annual General Meeting of an
Indian Companyhttp://www.techcorplegal.comEmail us: [email protected] Follow Us
● Maximum time for holding first AGM
● Time and Day
● Length and Mode of Notice
● Consent for Shorter Notice
● Quorum
● Penalty
Major Changes
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Maximum Time For Holding First AGM
The Companies Act, 1956
The Act specifies the maximum time
for holding first Annual General
Meeting as “18 months from
incorporation or 9 months from
closure of accounts, whichever is
earlier”
The Companies Bill, 2013
The Act specifies the maximum time
for holding first Annual General
Meeting as “9 Months from closure
of accounts”
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Time And Day
The Companies Act, 1956
The Act specifies that every annual
general meeting (AGM) shall be
called for a time during Business
Hours, on a day that is not a Public
Holiday.
The Companies Bill, 2013
The Act specifies that every annual
general meeting shall be called
during Business Hours, that is,
between 9 A.M. and 6 P.M. on any
day that is not a National Holiday.
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Length And Mode Of Notice
The Companies Act, 1956
The Annual General Meeting shall be
called for a time during Business
Hours, on a day that is not a Public
Holiday.
The Companies Bill, 2013
● 21 days clear notice to be given
by all companies.
● Notice may be given in writing
or in Electronic Form in the
manner prescribed.
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Consent For Shorter Notice
The Companies Act, 1956
Consent for Shorter Notice is to be
given by All Members entitled to
vote at the meeting.
The Companies Bill, 2013
Consent for Shorter Notice is to be
given by Not Less Than 95% of the
members entitled to vote at the
meeting
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Quorum
The Companies Act, 1956
Private Companies - 2 Members
Public Companies - 5 Members
The Companies Bill, 2013Private Companies - 2 Members
Public Companies
● 5 members where total
number of members do not
exceed 1000.
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● 15 Members where Total Number
of Members Exceed 1000 but do
not Exceed 5000.
● 30 Members where Total Number
of Members Exceed 5000
Quorum
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The Companies Bill,
2013
Penalty
The Companies Act, 1956
Company, and every officer of the
company who is in default, shall be
punishable with fine which may
extend to Fifty Thousand Rupees.
The Companies Bill, 2013
Company, and every officer of the
company who is in default, shall be
punishable with fine which may
extend to One Lac
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Penalty
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The Companies Bill, 2013
In the case of a continuing
default, with a further fine which
may extend to five thousand
rupees for every day after the first
during which such default
continues.
The Companies Act, 1956
In the case of a continuing
default, with a further fine which
may extend to two thousand five
hundred rupees for every day
after the first during which such
default continues.
WHO ARE WE ?
Our expertise lies in services involving Company Registration
in India, FEMA Matters, Advice on Joint Ventures, LLP
Registration, Import Export Code, International Taxation,
Management Consultancy and Company due diligence
Services etc.
http://www.techcorplegal.comEmail us: [email protected] Follow Us
Company & Corporate Consultancy Firm
WHO ARE WE ?
Multi-discipline, Full Service International Corporate
Law Firms based in New Delhi and Having
Association with Foreign Law Firms
We are Reliable, Knowledgeable and Hands-on.
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Company & Corporate Consultancy Firm
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