Annual general meeting Whether for purposes of section 159 the time within which it is required to be held is governed solely by section 166

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eeting ‑ Whether for purposes of section 159 the time within which it is required to be held is governed solely by section 166 This Department has received a reference from the Regional Director, Madras about the confirmation of the views contained in this Department's Letter No. 8/45(166)/64‑PR, dated 12‑1‑1965 (copy reproduced below) which, inter alia, stated that for ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....roviso to section 166(1) does not become exercisable if the "extension" sought by the company is for holding the meeting falling within the time limits mentioned in the said section 166 and is asked for solely on the ground that it has not been able to prepare the accounts for the period mentioned in section 210(3). Notwithstanding the legal position aforesaid, the Board is of the view that for ad....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....int that sections 166 and 210 should be read together and if a breach of the provisions of one or the other of the two sections is to be avoided an annual general meeting should be held on the earliest of the three relevant dates prescribed under these two sections vide Circular No. 8/16(1)/61‑PR, dated 25‑2‑1961. However, when it comes to determining for purposes of legal procee....