Section 97: Power of Tribunal to call annual general meeting
This section allows the Tribunal to intervene and order a company to hold its annual general meeting if it has failed to do so, and ensures the meeting is considered valid under the Act.
The section, clause by clause
What the section says
In plain terms
(1)If any default is made in holding the annual general meeting of a company under section 96, the Tribunal may, notwithstanding anything contained in this Act or the articles of the company, on the application of any member of the company, call, or direct the calling of, an annual general meeting of the company and give such ancillary or consequential directions as the Tribunal thinks expedient:
If a company fails to hold its annual general meeting as required, the Tribunal can order the meeting to be held on the application of any member and give any necessary additional directions, including allowing one member to constitute a meeting.
provisoProvided that such directions may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting.
(2)A general meeting held in pursuance of sub-section (1) shall, subject to any directions of the Tribunal, be deemed to be an annual general meeting of the company under this Act.
A meeting held as a result of the Tribunal's order will be considered an annual general meeting, subject to any specific directions from the Tribunal.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Subs. by Act 1 of 2018, s. 26, for “Provided that” (w.e.f. 13-6-2018).
This section refers to
Referred to by
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.