https://www.taxtmi.com/caselaws?id=99209 The court interpreted Section 255 of the Companies Act, 1956, ruling that directors must vacate their positions if an Annual General Meeting (AGM) is not held within the statutory period. Due to the company's failure to hold an AGM, the executive committee members were deemed to have vacated their positions. The court, under Section 186, called a meeting to elect new executive committee members. It emphasized that directors cannot continue in office by defaulting on calling an AGM. The court directed a meeting to be held for the election of office bearers and outlined detailed procedures for the process. en-us Mon, 13 Jan 1975 00:00:00 +0530 Wed, 25 Jan 2012 15:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99209 The court interpreted Section 255 of the Companies Act, 1956, ruling that directors must vacate their positions if an Annual General Meeting (AGM) is not held within the statutory period. Due to the company's failure to hold an AGM, the executive committee members were deemed to have vacated their positions. The court, under Section 186, called a meeting to elect new executive committee members. It emphasized that directors cannot continue in office by defaulting on calling an AGM. The court directed a meeting to be held for the election of office bearers and outlined detailed procedures for the process. Case-Laws Companies Law Mon, 13 Jan 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99209