10-Jan-2023 02:46 PM
In this case, you told in the class that for filing the suit of oppression and mismanagement there is requirement to hold atleast 10 % of shares. And similar case can be ask regarding Agm that who is eligible to hold agm and for that specific shareholding must be there. So, my question is that what is the required shareholding a person must have for hold the AGM.
The members are eligible to demand to convene Extraordinary General Meeting and not Annual General Meeting. The demand of members to convene a meeting is called requisition. It shall set out the matters for consideration of which the meeting is to be called. The number of members entitled to requisition a meeting in regard to any matter shall be 1. In case Company having a share capital, members holding at least one tenth of such paid up capital of the capital which carries a right voting in regard to that matter. 2. In case Company not having share capital, members holding at least one tenth of total voting power of all the members who have a right to vote to that matter.
Answer given by Shubhamm Sir at 26-Jan-2023 10:40 PM