Annual general meeting

An annual general meeting (commonly abbreviated as AGM, also known as the annual meeting) is a meeting of the general membership of an organization.

These organizations include membership associations and companies with shareholders.

These meetings may be required by law or by the constitution, charter, or by-laws governing the body. The meetings are held to conduct business on behalf of the organization or company.

Purpose

An organization may conduct its business at the annual general meeting. The business may include electing a board of directors, making important decisions regarding the organization, and informing the members of previous and future activities. At this meeting, the shareholders and partners may receive copies of the company's accounts, review fiscal information for the past year, and ask any questions regarding the directions the business will take in the future.

At the annual general meeting, the president or chairman of the organization presides over the meeting and may give an overall status of the organization. The secretary prepares the minutes and may be asked to read important papers. The treasurer may present a financial report. Other officers, the board of directors, and committees may give their reports. Attending this meeting are the members or the shareholders of the organization, depending on the type of organization.

Mukesh Ambani

Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian business magnate who is the chairman, managing director and largest shareholder of Reliance Industries Limited (RIL), a Fortune Global 500 company and India's second most valuable company by market value. He resides at the Antilia Building, the world's most expensive property. He holds a 44.7% stake in the company. He is the elder son of the late Dhirubhai Ambani and Kokilaben Ambani and the brother of Anil Ambani. RIL deals mainly in refining, petrochemicals, and in the oil and gas sectors. Reliance Retail Ltd., another subsidiary, is the largest retailer in India.

In 2014, he was ranked 36 on Forbes list of the world's most powerful people and in 2010, he was included in Forbes's list of "68 people who matter most". As of 2013, he is India's richest man and second richest man in Asia. Ambani retains his title as India's richest person for the ninth consecutive year. Through Reliance, he also owns the Indian Premier League franchise Mumbai Indians. In 2012, Forbes named him one of the richest sports owners in the world.