Q.What is QUORUM?

General meetings give shareholders direct oversight of the company. The Annual General Meeting (AGM), under Section 96, is a mandatory yearly meeting for every company except a One Person Company — the first AGM must be held within 9 months of the end of the company's first financial year, subsequent AGMs within 6 months of the end of each financial year, and the gap between two AGMs must never exceed 15 months. The Extraordinary General Meeting (EGM), under Section 100, is any general meeting other than the AGM, called to transact urgent business, either on the Board's own initiative or on the requisition of members holding a prescribed minimum shareholding. Both AGMs and EGMs require not less than 21 …