Study the following case/situation and express your opinion.
1) Platinum Limited Company was incorporated on 1st Jan.2018. Advice the Board of
Directors on the following matters.
a) Within what period should the company hold its 1st Annual General Meeting?
b) At which place should the Annual General Meeting be held.
c) How many days in advance should the notice and agenda be sent to members?
a) The Board of Directors should hold 1st Annual General Meeting of Platinum Limited Company any time during the period of 9 months from 1st April 2019 to 3lst December 2019.
b) Annual General Meeting of Platinum Limited Company should be held at the registered office of the company or at some other place within the city or village in which the registered office of the Platinum Limited Company is situated.
c) The Secretary of Platinum Limited Company should send the notice and agenda of the Annual General Meeting 21 days prior to date of meeting to be held.
2) XYZ Ltd held its Annual General Meeting on 11th May 2018. On 1st June Mr. X, a Director
of the company was arrested for a financial scam. Hence the shareholders of the company
want to remove him.
a) Can the company call for the next Annual General Meeting to be held immediately
to remove the Director?
b) Which meeting of members should the company hold to discuss removal of the Director?
c) What type of resolution will be passed in this meeting for removal of the Director?
a) To remove the Director from his office, the shareholders of XYZ Ltd. cannot call the next Annual General Meeting immediately after 1st June 2018.
b) The XYZ Ltd. Company should hold Extraordinary General Meeting to discuss removal of the Director for financial scam.
c) Resolution requiring special notice (Section 115) is to be passed in the Extraordinary General Meeting for removal of the Director.