National Wind Power Ltd. is a company registered in the State of Maharashtra, in which the equity capital is held by Central Government — 40%, LIC — 20%, State Bank of India — 20% and the balance 20% by public shareholde

Section 96 of the Companies Act, 2013 read with Secretarial Standard-2 provides that the Annual General Meeting shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated. Further, a Government Company may hold its annual general meeting either at the registered office of the company or at such other place as the Central Government may approve. In the case of National Wind Power Ltd, the holding by Central Government is only 40% which is less than 51% and further the holding by LIC or State Bank of India will not be counted as government holding. Hence the Company is not a Government Company and hence does not enjoy the privilege to hold the annual general meeting at any other place other than the city, town or village where the registered office is situated. Therefore, the Company cannot hold the AGM at Darjeeling in spite of the approval by the Central Government. OR Second proviso to Section 96 (2) of the Companies Act, 2013 provides that the Central Government may exempt any company from the provisions of 96(2) subject to such conditions as it may impose. If the company has obtained an Exemption Order from the Central Government under these provisions, the AGM can be held at Darjeeling.