What is General meeting and difference between annual general meeting and extraordinary general meeting

General meeting

A General meeting is the meeting of shareholders. According to company act 2013, every company should have at last one general meeting every year. At an annual general meeting, shareholders discuss business and take decisions on the course of business and they pass some resolutions related to business. There are 2 types of general meetings:-

1.  Annual general meeting.
2.  Extra-ordinary general meeting.

Annual general meeting(section 96)

According to section 96 of the companies act 2013, every company shall do a general meeting not more than 6 months later than the end of the financial year. There should not be more than 15 months time period in between 2 general meeting. In case it is not possible for a company to hold an annual general meeting within the prescribed time, the Registrar may, for any special reason, extend the time within which any general meeting shall be held. Such an extension can be for a period, not more than 3 months. No such extension of time can be granted by the Registrar for the holding of the first annual general meeting. There should be at least one annual general meeting in every calendar year and more than 12 months period should not escape in between 2 annual general meetings. For a newly incorporated company 9 months time is given for the general meeting, it means for a newly incorporated company it is not compulsory to do the annual general meeting in the year of its incorporation.

   
 Place of meeting:- According to company act 2013, the meeting can be held at the registered office of the company or and any place within the city or village in which the registered office of the company is situated.

Time of meeting:- The meeting can be held at any time between 9:00 AM to 6:00 PM.

Place of meeting:- The meeting can be held on any working day which is not a national holiday.

Government company:- in case of a government company AGM can be held at any place within India with the concern of government.

Extra-Ordinary general meeting(section 100)

Every meeting of shareholders other than an annual general meeting is an extra-ordinary general meeting. In the extra-ordinary general meeting, shareholders discuss over the special course of business.

Place of meeting:- According to company act 2013, the meeting can be held at the registered office of the company or and any place within the city or village in which the registered office of the company is situated.

Time of meeting:- The meeting can be held at any time between 9:00 AM to 6:00 PM.

Place of meeting:- The meeting can be held on any working day which is not a national holiday.

FAQ

1. General Meeting and Annual General Meetings are different?

No, General Meeting and Annual General Meeting are both same things.

2.  Annual General Meeting and Extraordinary General Meeting are Different?

Yes, an Annual general meeting is a compulsory meeting that should be held in every year and Extra-ordinary General Meeting is not compulsory it is held for an Extra-ordinary or specific business topic.