09 June 2011
A Company was incorporated on 16.04.2010. As per Sec.166 the period of 18 monhts for holding the first AGM expires on 15.10.2011. However, as per Section 210 the time of 9 months from the last date of Accounts ends on 31.12.2011. In my opinion to comply with both the Section the last date by which the Company is required to held AGM is 15.10.2011.
Kindly advice.
Further, is there any provision under the Act for the extension of time under Section 166 for holding the First AGM?
09 June 2011
Yes, your opinion is right. AGM should be held by 15-10-2011.
Regarding extention of time, I donot recall the section at the moment, but provision is there for extention. You need to apply. extention can be of 3 months. Even if no extention is granted on merit, you can hold agm and then adjourn to some future date.
CAclubindia
