Page 5 - Agms

It's raining AGMs as September draws to a close

Over the next 10 days, shareholders would be flooded with hundreds of annual general meetings (AGMs) with thousands of resolutions that determine the form and functions of the companies over the next year coming up for approval.Between September 21 and September 30, a whopping 697 companies are proposing to hold their AGMs. That would be 45 per cent of all listed companies on the National Stock Exchange (NSE).Companies get six months from the close of the financial year to get their audited accounts approved by the shareholders. As most companies operate with the financial year ending March 31, September 30 is the big deadline for top management and compliance executives.According to data from Prime Database, as many as 206 AGMs are scheduled to be held on September 30 alone. One hundred and twenty-six will be held a day before the deadline and 83 on September 28. "This continues to be a disturbing phenomenon as studies have shown that companies which delay their AGMs also perform poor