Section 96 of the Companies Act, 2013 requires every Company other One Person Company (OPC) to conduct once a year a meeting, in addition to any other meeting, for its members, called as Annual General Meeting.
Section 97 of the Companies Act, 2013 states the Power of Tribunal to call Annual General Meeting (AGM) in case of default in convening annual general meeting
In case the company makes default in holding the Annual General Meeting, any member of the Company may approach the prescribed authority for calling of the Annual General Meeting.
Section 97(1) says that if any default is made in holding annual general meeting u/s 96, the National Company Law Tribunal (NCLT) 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.
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.
Section 97(2) states that 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 (AGM) of the company under this Act.
Rule 47 of the National Company Law Tribunal Rules, 2016:
Rule 47 of the National Company Law Tribunal Rules, 2016 states that an application under section 97 of the Companies Act, 2013 for calling or directing a director to call the annual general meeting of the company shall be made by any member of the Company in Form NCLT-1. The following documents are required to be filed along with the Form-
– Affidavit verifying the petition;
– Bank draft evidencing payment of the application fee;
– Any other relevant documents.
The fee applicable is Rs.1000/-
The Tribunal, if considers the petition fits, may direct the directors to conduct the annual general meeting of the Company.