Template Description
This board resolution template is designed for organizing an Extraordinary General Meeting (EGM). This template is 2 pages MS Word document. It is mandatory for Private Limited Companies and is in compliance with statutory requirements as outlined under the Companies Act, 2013. Intended user include Company Directors, Company Secretaries, Corporate Legal Advisors, Corporate Consultants, Administrative Staff and Stakeholders
Understanding the Board Resolution -To Call Extra Ordinary General Meeting
Forms related to EGM
Some of the forms may be require to filed up in process of calling EGM
MGT-14 (Filing with Registrar of Companies)
MGT-15 (Proxy Form)
Form DIR-12 (Appointment of Director)
Form MGT-11 (Proxy Form)
Form GNL-2 (Submission of Documents)
Requirements before Fixing Date of Extraordinary General Meeting
Understand the Purpose of the EGM: Clearly define the purpose and objectives of the EGM involve addressing specific issues or decisions that cannot wait until the next Annual General Meeting.
Check Company’s Articles of Association: Review the company’s Articles of Association to ensure compliance with any specific provisions related to convening EGMs.
Determine the Urgency: Assess the urgency of the matter requiring the EGM. Ensure that the issues at hand justify the need for an extraordinary meeting rather than waiting for the regular AGM.
Review Statutory Requirements: Verify the statutory requirements for calling an EGM, including the minimum notice period to be given to members (typically 21 clear days), quorum requirements, and voting procedures.
Prepare Draft Notice of EGM: Prepare a draft notice for the EGM that includes the date, time, venue, agenda items, and any special resolutions to be discussed.
Arrange for Board Meeting: Schedule a board meeting to discuss and resolve the details of the EGM. Ensure that all board members are notified of the meeting in advance.
Gather Supporting Documents: Collect all necessary supporting documents and information required for the EGM agenda. This may include financial reports, proposals, and other relevant materials.
Plan for Notice Distribution: Decide on the mode of distribution for the EGM notice (e.g., postal, electronic). Ensure that the method complies with company policies and legal requirements.
Coordinate with Company Secretary: Work with the company secretary to ensure that all administrative aspects of the EGM are handled efficiently, including the preparation of minutes and other formalities.
Review Financial Implications: Assess any financial implications associated with the EGM, including costs for preparing and distributing notices and any potential impact on company resources.
Ensure Compliance with Regulatory Bodies: Verify any additional requirements from regulatory bodies or stock exchanges (if applicable) that may affect the EGM process.
Conclusion
This template provides a structured approach for companies to formalize the scheduling of an Extraordinary General Meeting and the approval of its notice. It ensures that all procedural requirements are met and that the meeting is conducted in accordance with legal and regulatory standards. By using this resolution, companies can efficiently manage their governance processes, ensuring timely and organized decision-making.