Business Studies

Can a public ltd. company hold an AGM on a public holiday?


ANSWER

No


SOLUTION
Annual General Meeting of a public company cannot be held on a public holiday. Section 166(2) inter alia states that every annual general meeting shall be called on a day, which is not a public holiday. It has been clarified by the Department (MCA) vide Circular F. No. 8/23/(166 /69-CL-V that section 166 of the Companies Act deals with the actual period during which the annual general meeting is to be held. Sub-section (2) states that every annual general meeting shall be held on a day that is not a public holiday and this provision is mandatory.
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