Section 42:
Balance sheet, etc., of State Bank may be discussed at general meeting.
1[42. Balance sheet, etc., of State Bank may be discussed at general meeting.-- (1) An annual
general meeting shall be held in each financial year at the Corporate Centre or at such other place in
Mumbai other than the Corporate Centre or at such other place in India and at such time, as shall from
time to time be specified by the Central Board and a general meeting other than an annual general
meeting may be convened by the State Bank at any other time and at such place in India as shall from
time to time be specified by the Central Board:
Provided that such annual general meeting shall be held before the expiry of six weeks from the date
on which the balance sheet together with the profit and loss account and auditors' report, under subsection (1) of section 40, is forwarded to the Central Government or to the Reserve Bank, whichever date
is earlier.
(2) The shareholders present at an annual general meeting shall be entitled to discuss and adopt the
balance sheet and the profit and loss account of the State Bank made up to the previous 31st day of March
or the date specified under section 39, as the case may be, the report of the Central Board on the working
and activities of the State Bank for the period covered by the accounts and the auditors' report on the
balance sheet and accounts.]
Notes:
1. Subs. by Act 27 of 2010, s. 29, for section 42 (w.e.f. 15-9-2010).