Shorter Consent Format for conducting AGM By ACS Prem Munjal


As you know that the AGM season in India has been kicked off. The company incorporated in India also required to do certain compliance called 'annual compliances' to remain an active company in the registry maintained by the Ministry of Corporate Affairs.

However, the deadline for annual compliances is based upon the date on which it has been convened its general meeting called AGM and also need to supply the statutory data as outstanding on 31st March of every financial year.

There are various options available with the Company to conduct its AGM. However, to convene such a meeting, A company also need to issue a notice. It may be issued a shorter notice or regular notice.

If a company has to convene its AGM by shorter notice, then, it must have a consent, either in writing or electronically, from not less than 95 % of the members entitled to vote at such meeting or to issue a notice not less than 21 clear days of the meeting to call.

The Indian Company law merely just give a protocol to call AGM by shorter notice. However, the company must have been accorded an approval by its requisite members to call the meeting by shorter notice.

In my opinion, as the law has given an option but the implementation of the provision will vary from company to company and also the shorter consent from the members also does hold significance.

Therefore, in this write-up with a view to making the implementation easy, I have created a specimen which you may send to the members to seek their approval.

xx-xx-xx-xx

The Board of Directors / Company Secretary

ABC Limited

Address

Sub: Seeking consent from the members to convene AGM at shorter notice

Dear Sir/s,

I/we, ........................................................., the member/s holding an ............................. (in words) equity shares of the Company as on date representing ...................% of the total paid-up share capital and also have an entitlement to vote at such meeting, hereby do accord mine/our consent to convene the ensuing AGM of the Company at shorter notice.

Kindly do take the same on your record.

Thanking you

Yours truly

 

(Name of the Member)

Date: 

Place:

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