Kidszone Private Limited running the garments business, manufacturing readymade clothes for kids was incorporated on 8th August, 2018 consisting of 20 members and 4 directors namely-Anju, Ankith, Bindu, and Bhuvan. The c

Section 97 of the Companies Act, 2013, provides that if any default is made in holding the annual general meeting of a company, any member of the company may make an application to the Tribunal to call or direct the calling of, an annual general meeting of the company and give such ancillary or consequential directions as the Tribunal thinks expedient. Such directions may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting. Section 99 of the Companies Act, 2013, provides that if any default is made in complying or holding a meeting of the company, the company and every officer of the company who is in default shall be punishable with fine which may extend to one lakh rupees and in case of continuing default, with a further fine which may extend to five thousand rupees for each day during which such default continues. In light of the above provisions, it may be said that 2 members are entitled to file an application before the NCLT for direction to hold the AGM and the Board will be advised about the penal provisions for default in holding the AGM as explained above.