SIDBI Act 20FChapter IVB · Meetings and Proceedings
Section 20F · Annual general meeting
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1[20F. Annual general meeting.--(1) The Small Industries Bank shall in each year hold, in addition
to any other meetings, a general meeting as its annual general meeting and shall specify the meeting as
such in the notices calling it; and not more than fifteen months shall elapse between the date of one
annual general meeting and that of the next:
Provided that the Small Industries Bank may hold the first annual general meeting within a period of six months from the date on which it allots shares for the first time to public for subscription:
Provided further that the Central Government may extend the time within which any annual general meeting shall be held by a period not exceeding three months.
(2) Every annual general meeting shall be called for a time during business hours, on a day that is not public holiday, and shall be held either at head office or at some other place within the city or town in which the head office is situated.
Explanation.--For the purposes of this section, "public holiday" means a public holiday within the meaning of the Negotiable Instruments Act, 1881 (26 of 1881):
Provided that no Sunday shall be deemed to be such a holiday in relation to any meeting:
Provided further that no day declared by the Central Government to be a public holiday shall be deemed to be such a holiday, in relation to any meeting, unless the declaration was notified before the issue of the notice convening such meeting.]
Provided that the Small Industries Bank may hold the first annual general meeting within a period of six months from the date on which it allots shares for the first time to public for subscription:
Provided further that the Central Government may extend the time within which any annual general meeting shall be held by a period not exceeding three months.
(2) Every annual general meeting shall be called for a time during business hours, on a day that is not public holiday, and shall be held either at head office or at some other place within the city or town in which the head office is situated.
Explanation.--For the purposes of this section, "public holiday" means a public holiday within the meaning of the Negotiable Instruments Act, 1881 (26 of 1881):
Provided that no Sunday shall be deemed to be such a holiday in relation to any meeting:
Provided further that no day declared by the Central Government to be a public holiday shall be deemed to be such a holiday, in relation to any meeting, unless the declaration was notified before the issue of the notice convening such meeting.]
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