🔴 Key Differences Between Annual General Meeting (AGM) and Extraordinary General Meeting (EGM)
🫵🏻 An Annual General Meeting (AGM) is the meeting which should be organised by the company in each calendar year, to discuss various business matters. On the other extreme, an Extraordinary General Meeting (EGM) is any meeting other than the AGM in which business concerning company’s management are discussed.
🫵🏻 The first Annual General Meeting (AGM) must be convened not more than nine months from the close of the financial year. Conversely, there is no such requirement in the case of Extraordinary General Meeting (EGM).
🫵🏻 Both ordinary business and special business are transacted at AGM, whereas only special business is transacted at EGM.
🫵🏻 An AGM should be conducted on any day other than a national holiday, in business hours only. As against, an EGM can be carried out on any day including national holiday, and anytime during a day.
🫵🏻 When Annual General Meeting (AGM) is not called within the stipulated time, penalty up to Rs. 1,00,000 and Rs. 5000 per day is imposed. In contrast, no penalty is prescribed as per law for not calling an Extraordinary General Meeting (EGM).
🫵🏻 While an AGM is called by the board only, EGM can be summoned by Board, Board on the requisition of shareholders, requisitionist or tribunal.
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🫵🏻 UGC NET COMMERCE #ugcnetcommerce
🫵🏻 LLB #llb
🫵🏻 UGC NET LAW #ugcnetlaw
🫵🏻 Economics Students
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🔴 In this video-
Teacher's Name - CS Payal Popli
Topic -ANNUAL GENERAL MEETING | EXTRAORDINARY GENERAL MEETING | Difference between AGM vs EGM
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#padhakulog #economics #economicstudent #statistics #economics11thclass
#csfoundation #icsi #companysecretary #companiesact2013 #commercestudents
#legalaptitudeandlogicalreasoning #cuet #cuetpreparation
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