167. POWER OF CENTRAL GOVERNMENT TO CALL ANNUAL GENERAL MEETING

(1) If default is made in holding an annual general meeting in accordance with section 166, the Central Government may, notwithstanding anything contained in this Act or in the articles of the company, on the application of any member of the company, call, or direct the calling of, a general meeting of the company and give such ancillary or consequential directions as the Central Government thinks expedient in relation to the calling, holding and conducting of the meeting.

Explanation. - The directions that may be given under this sub-section may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting.

(2) A general meeting held in pursuance of sub-section (1) shall, subject to any directions of the Central Government, be deemed to be an annual general meeting of the company :

Provided that in the case of revival and rehabilitation of sick industrial companies under Chapter VIA, the provisions of this section, shall have effect as if for the words "Central Government", the word "Tribunal" had been substituted.