Question: What Is EGM And IGM?

What does EGM mean?

An extraordinary general meeting (EGM) refers to any shareholder meeting called by a company other than it’s scheduled annual meeting.

The extraordinary general meeting is utilized to deal with urgent matters that come up between annual shareholders’ meetings..

Who can attend EGM?

Only the members that hold 10% of the company’s paid-up capital or more can call an EGM. They must carry voting rights regarding the agenda on the date of submitting the request.

How do you conduct an EGM?

Calling an EGM as requested by shareholders owning at least 10 percent of the Company’s voting shares shall be carried out by the Company’s Board of Directors. The Board of Directors shall either call or refuse to call the EGM within 5 days from the date that the corresponding request was lodged.

What is meant by IGM number?

IGM means, Import General Manifest. Let us discuss about Import General Manifest. Once after arrival of cargo at a destination customs location, the carrier has to file with customs, the details of goods arrived. Each lot of arrival from a particular vessel or aircraft need to be filed separately.

What is inward date in IGM?

Normally, Entry Inwards is granted only after the IGM is delivered. The date of Entry Inwards is crucial for determining the rate of duty in case of filing of prior Bill of Entry, as provided in Section 15 of the Customs Act, 1962.

What is the meaning of IGM in shipping?

Import General ManifestA mandatory requirement under Section 30 of the Customs Act 1962, the Import General Manifest that every shipping line or its agent needs to file with the customs 24 hours before its ship enters Indian waters and has cargo to be discharged at the port of call.

When EGM is filed?

In terms of Sec. 41 of Customs Act, 1962, the person-in-charge of a conveyance carrying export goods (Shipping Lines) is required to file EGM, before the departure of the conveyance from a Customs Station and should subscribe to a declaration as to the truth of its contents.

Why is IGM filed?

The purpose of filing IGM is: To ensure that all the import of a vessel has been duly accounted for. That all the obligations imposed on the master/steamer agents of the vessel under the provision of sec. … That all documents relating to import ship files are forthcoming and complete.

Who is responsible for filing IGM?

The procedures to file IGM (Import General Manifest) are done by the carrier of goods or his agent. Normally IGM is filed on the basis of Bill of Lading or Airway bill, issued by the carrier.

What is the meaning of EGM in export?

Export General ManifestThe (EGM) Export General Manifest is one such liability that rests upon the carrier. … This form is known as the Export General Manifest. An EGM is filed before the departure of the carrier and is considered to be the proof of shipment and export.

What is EGM details in GST?

EGM means export general manifest which has to be filed by shipping carrier of goods, once after ‘export’ takes place. Shipping bill is the document to be filed by exporter or his authorized customs broker with customs at the time of export.

What is EGM error?

This could be due to either the Shipping Lines have missed out the Shipping Bill in the EGM or due to some technical reasons the EGM(Line no.) against the S/Bill was rejected at the time of the EGM filing by ICES. This also result in Error Code – SB002 (EGM not filed) for IGST Refunds.