The question of conducting Extra ordinary General meeting debated here.
In Companies Act 1956, there was no restriction that the EGM can be held within the same city where registered office is situate or within India or anywhere in the world This is applicable for all companies including listed companies.
Now in the Present Companies Act 2013, they have amended the same and also put restriction. MCA might have consider restriction only for listed company not for unlisted company.
What is the restriction?
Explanation to Rule 18 of Companies provides are as follows
Explanation.- For the purpose of this rule, it is hereby declared that the extra ordinary general meeting shall be held at a place within India.
The word shall used here means it is mandatory for all companies mandatorily to convene Extra ordinary General Meeting only in India
There is no possibility for shareholders who reside outside India and they have to personally present. If suppose not personally present, they board to decide adjournment and also convene the adjourned meeting
Conclusion: EGM shall be held at a place within India not outside India.
