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Sec 100
Corporate & Other Laws
Provided that an EGM of company , other than wholly owned subsidiary of company incorporated outside India , shall be held at place in India . What is the meaning of this
Answers (1)
This is a proviso to Sec 100(1). Section 100(1) says Board may, whenever it deem fit, call an extraordinary general meeting of the company. So, Board has got the power to call EGM. Now, this proviso says such EGM shall be held within India, not outside. with an exception of an Indian Company which is wholly owned Subsidiary Company of Foreign Company i.e. wholly owned subsidiary of company incorporated outside India, can hold meeting outside India.
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