Glossary · Corporate Law
AGM
Annual General Meeting — a yearly meeting of a company's shareholders required under Section 96 of the Companies Act, 2013.
Every public company must hold an AGM within 15 months of the previous AGM, and the gap between two AGMs cannot exceed 18 months. The first AGM must be held within 9 months of the close of the financial year. AGMs are held to adopt financial statements, declare dividends, elect directors, appoint auditors, and conduct any other business stated in the notice. A 21-day clear notice is mandatory, and members can attend in person, video-conference, or through proxies.
Examples
Infosys holds its AGM every year in June to adopt annual accounts, declare final dividend, and re-appoint statutory auditors.