Annual Accounts of the Company are to be submitted to the ROC within 30 days of the date of AGM in e-form 23AC (Balance Sheet )and 23ACA (Profit and Loss Account).
Annual return is to be submitted within 60 days of the date of AGM in e-form 20B.
The First Auditor of the Company shall be appointed by the BOard of Directors whitin 1 month of the date of registration of the company and the auditor so appointed shall hold office until the conclusion of the First Annual General Meeting. [Section 224(5)]
The procedure for holding Annual General Meeting:-
Hold BOard meeting and decide date, time and venue of AGM, approve notice, authorise director / secreatry to issue notice, send notice before atlease 21 clear days .Then hold AGM
As per section 224(5), the first auditor or auditors of a company shall be appointed by the Board of directors within one month of the date of registration of the company; and the auditor or auditors so appointed shall hold office until the conclusion of the first annual general meeting. Following provisions are related to the matter:
(i) Appointment of first auditors in general meeting.—A company in general meeting may appoint the first auditor or auditors if the Board of directors fails to exercise its power of appointment of first auditors within one month of the date of incorporation of the company.
(ii) Appointment of first auditors through Memorandum and Articles of Association.—The Institute of Chartered Accountants of India has expressed its opinion vide Compendium of Opinion Volume No. 1 that the appointment of first auditors through the Memorandum and Articles of Association of the newly floated private company is not a valid appointment.
(iii) Removal of first auditors.—The company may, at a general meeting, remove first auditor(s) or all or any of such auditors and appoint in his or their places any other person or persons who have been nominated for appointment by any member of the company and of whose nomination notice has been given to the members of the company not less than fourteen days before the date of the meeting.
(iv) Tenure of office of the first auditor.—The first auditor(s) shall hold office until the conclusion of the first annual general meeting of the company and then be eligible for re-appointment.