Startup Pvt Ltd wishes to hold its General Meeting on 2nd October, 2020. So, can General Meeting be held on National Holiday ?
In the present case mentioned i.e. ABC Pvt Ltd wishes to hold its General Meeting on the 2nd October,2020. General Meeting means meeting of members. As per SS-2 General Meeting can be broadly categorized as follows:
Annual General Meeting (AGM): AGM is a meeting conducted by every Private Limited Company or Limited Company during every year. This meeting should be conducted within 6 months from end of Financial Year and the gap of not more than 15 months shall elapse between the date of one annual general meeting of the company and that of the next unless the Registrar for special reason has extended the time for holding the AGM. Such extension cannot be more than 3 months.
Also, as per Section 96 of the Companies Act, 2013 any AGM can be held only in the business hours on any day i.e. not a National holiday. According to SS–2, National Holiday means Republic Day i.e. 26th January, Independence Day i.e. 15th August, Gandhi Jayanti i.e. 2nd October and such other day as may be declared as National Holiday by the Central Government.
Extra- Ordinary General Meeting (EGM): A company may also hold any other Meeting of its Members called an Extra-Ordinary General Meeting, as and when required or at the requisition of the Members. An Extra-Ordinary General Meeting is convened for transacting Special or Urgent business that may arise in between two Annual General Meetings. Unlike the AGM the prohibition of dates does not extend to EGM. Thus, EGM can be held on any day including a National Holiday
Hence in case of ABC Pvt Ltd if the general meeting is an Annual General Meeting(AGM) then it cannot be held on 2nd October,2020 as it is a National Holiday but if the general meeting is Extra- Ordinary General Meeting (EGM) then it can be held on any day including National Holiday i.e. 2nd October,2020.
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