State the procedures of calling Annual General Meeting and Extraordinary General Meeting of a Company State what businesses are transacted in Annual General Meeting.

Annual General Meeting

 
As per section 81(1) of the Companies Act 1994 every Company shall hold one Annual General Meeting (AGM) of the Company in every Gregorian calendar year. But the period from one AGM to next AGM shall not exceed 15 months. Every company shall hold its first AGM after incorporation within 18 months from the date of incorporation. But as per SEC regulations the AGM is to be held within 6 months from the end of its Accounting year.

For calling AGM notice to the shareholders is to be given at least 14 days before the AGM, mentioning the date, time, agenda and venue of the meeting therein. The annual report of the company is to be accompanied.

Extra ordinary general meeting:

As per Section-84, the above meeting can be called on requisition from holders of 1/10lh members or 1/10 holders of paid-up capital. If the Directors do not cause a meeting to be called within twenty-one days from the date of the requisition being so deposited, the requisionist or a majority of them in value may themselves call the meeting, but in either case any meeting so called shall be held within three months from the date from the deposit of the requisition. Notice for holing the meeting is to be given at least 21 days before the date of the meeting. The Agenda of the meeting is to be mentioned in the notice.

Following businesses are generally transacted in the AGM
 

1. Adoption of annual financial statements and auditors' report thereon;
2. Declaration of Dividend;
3. Appointment of Auditors and fix their remuneration; ,
4. Appointment of Director(s) after requirements thereof:
5. Any other matter with the permission of chair.