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Query regarding the due date of AGM for a new company (Corporate Law)

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This query is : Resolved



( Author )
14 October 2009

Query regarding the due date of AGM for a new company

A is a private company.

Date of Incorporation : 24.01.2007
Financial Year end date : 31.03.2008
Date of First AGM : 04.06.2008
Due Date of AGM : 24.07.2008

[Every company shall in each year hold in addition to any other meetings a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it; and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next:

Provided that a company may hold its first annual general meeting within a period of not more than eighteen months from the date of its incorporation; and if such general meeting is held within that period, it shall not be necessary for the company to hold any annual general meeting in the year of its incorporation or in the following year;]

Experts' view is appreciated for the above stated 'due date of AGM' – whether it is right or not.


Ankur Garg

( Expert )
14 October 2009

Your calculation is correct. But there is small modification==Your 18 months complete on 23.07.2008.

As per section 166==within 18 months==23.07.2008
As per section 210==within 9 months from the end of Financial Year (In case of first AGM)==31.12.2008

More stringent time limit in this case is limit under section-166. Hence your due date of AGM is 23.07.2008.

Regards


Member (Account Deleted)

( Author )
14 October 2009

Thanks a lot.


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