Query of Capt B P Singh

Can AGM be conducted without the agenda?

I C Naik

Provisions in the MCS Act 1960 on Annual General Meeting

“Section 75 – Annual general meeting

(1) Every society shall, within  a period of four months after the close of the financial year, get its books of accounts audited and within six months after the close of financial year to transact its business as may be provided in this Act, call the annual general body meeting of its members”

Sub-section 2 reads as under:

(2) At every annual general body meeting of a society, the committee shall lay before the society,—

1. a statement showing the details of the loans, if any, given to any of the members of the committee or any member of the family of any committee member, including a society or firm or company of which such member or members of his family is a member, partner or director, as the case may be; the details of repayment of loan made during the preceding year and the amount outstanding and overdue at the end of that year;
2. annual report of its activities;

iii.          plan for disposal of surplus^[1];

(iv)   list of amendments of the by-laws of the society, if any;

1. declaration regarding date and conduct of its election of its committee, when due;
2. audit report of the preceding financial year;
3. rectification report of earlier audit;

vii.         annual budget for next year;

viii.       any other information required by the Registrar in pursuance of any of the provisions of the Act and rules; and

1. such other business will be transacted as may be laid down in the by-laws and of which due notice has been given.

Holding of AGM  of every cooperative society is mandatory and agenda is to be drawn up as stated above.