|Sr. No||Particulars||Sections of Companies Act, 2013||Sections of Companies Act, 1956|
Statement to be annexed to the notice of general meeting
Requires mentioning the interest of every promoter, director, manager or key managerial person in any other company which is related to or will be affected by the proposed resolution, if the above mentioned persons hold two percent of the paid-up share capital of that company
Section 102 (4)
Effects of non-disclosure of any benefit accruing to director, manager of other key managerial personnel on account of non-disclosure/insufficient disclosure in explanatory statement
Section 102 (5)
Penalty for default in compliance of Section 102
Requires such disclosure if any director or manager holds twenty percent of the paid-up share capital or more in such other companies.
|2||Quorum for the meeting||
for a public company:
Additional provisions: Proviso to Section 103(2):
If the Board decides on the date, time, place of an adjourned meeting then the company shall give not less than three days’ notice to the members either individually or by publishing an advertisement in the newspapers (one in English and one in vernacular language) which is in circulation at the place where the registered office of the company is situated.
For a public company 5 members personally present unless a higher quorum is stipulated by articles of association
|4||Demand for Poll||
Demand for poll should be made by:
(a) in the case a company having a share capital, by the members present in person or by proxy, where allowed, and having not less than one-tenth of the total voting power or holding shares on which an aggregate sum of not less than five lakh rupees or such higher amount as may be prescribed has been paid-up; and
(b) in the case of any other company, by any member or members present in person or by proxy, where allowed, and having not less than one-tenth of the total voting power.
Demand for poll should be made by:
|5||Demand for Poll||
Section 109 (5):
|6||Minutes of proceedings of general meeting||
|7||Report on annual general meeting||
Every listed public shall prepare a report on each annual general meeting and file the said report with the Registrar in Form No. MGT 15 within 30 days of the conclusion of the annual general meeting
|No such provisions were prescribed.|
|8||Annual General meeting||Section 96||Section 166|
|First Annual General meeting||To be held within a period of 9 months from the date of closing of the first financial year and further general meetings to be held within a period of 6 months from the date of closing of the financial year||To be held within 18 months from the date of its incorporation|
|Time of the meeting||Merely mandates calling of AGM during business hours without defining business hours||Defines business hours as between 9 am to 6 pm|
|Date of the meeting||
Cannot be called on a National Holiday
“National Holiday”: means and includes a day declared as National Holiday by the Central Government.
|Cannot be called on a public holiday|
Pro Technology provisions included in Companies Act, 2013
Section 101 of the Companies Act 2013, permits that notice of the general meeting of the company can be given through electronic mode.
Section 108 of the Companies Act 2013, enables the members of prescribed class or classes of companies to exercise vote through electronic means.
Section 120 of the Companies Act, 2013 enables the company to maintain/allow inspection of/give copies of any document, records, register, minutes etc. in electronic form.