78. Calling of extraordinary general meeting on requisition:-
(1)Notwithstanding anything in the articles, the directors of a company which has a share capital shall, on the requisition of the holders of not less than one-tenth of the issued share capital of the company upon which all calls or other sums then due have been paid, forthwith proceed to call an extraordinary general meeting of the company.(2)The requisition must state the objects of the meeting and must be signed by the requisitionists and deposited at the registered office of the company, and may consist, of several documents in like form, cash signed by one or more requisitionists.(3)If the directors do not proceed within twenty-one days from the date of the requisition being so deposited to cause a meeting to be called, the requisitionists, or a majority of them in value, may themselves call the meeting, but in either case any meeting so called shall be held within three months from the date of the deposit of the requisition.(4)If at any such meeting a resolution requiring confirmation at another meeting is passed, the directors Shall forthwith call a further extraordinary general meeting for the purpose of considering the resolution and, if thought fit, of confirming it as a special resolution and, if the directors do not call the meeting within seven days from the date of the passing of the first resolution, the requisitionists, or a majority of them in value, may themselves call the meeting.(5)Any meeting called under this section by the requisitionists shall be called in the same manner,as nearly as possible, as that in which meetings arc to be Called by directors.
