Short Notes on Annual General Meeting

Every company limited by shares is required to hold a meeting with all of its shareholders once a year. Such a meeting is called annual general meeting. The first annual general meeting must be held within 18 months from the date of its incorporation. In the subsequent years the annual general meeting should be held at least once a year, but under emergency the gap between two annual general meetings may be upto 15 months. The annual general meeting carries important message to the shareholders. Usually its agenda includes declaration of dividend of shares appointment of auditor and fixation of his fees, approval of auditors report and audited accounts, approval of annual report, appointment of new directors where necessary etc.

The notice of the annual general meeting should be sent to the shareholders at least 14 days before the meeting. However, a notice of less than 14 days may be sent with the consent of all shareholders expected to remain present. The agenda of the meeting should be sent with the notice, For failure to convince the annual general meeting in time the company itself and every director liable for such failure may be fined upto Tk. 500/.