Power of Tribunal to call annual general meeting
📚 Law Minded summary
If a company simply does not hold its annual general meeting, a member can ask the Tribunal to order one.
The Tribunal can call the meeting, direct how it is to be held, and even rule that a meeting of one member present in person or by proxy counts as a valid general meeting.
A meeting held on that order is treated as the company's annual general meeting.
(1) If any defa ult 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: Provided 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.