Related to AGM of a Company

Hi

Act says the gap between two AGMs must not exceed 15 months or 6 months from date of BS, whichever is earlier.

The Due date would be 30/09/2010

Act says the gap between two AGM not more than 15 months or six month from yhe date of balance sheet whichever is earlier

As per companies Act the Gap b/w two AGMs should not be more than 15 months but AGM to be held within 6 months of closing of FY. So the due dat e of AGM would be 30.09.2010 in your case.

Originally posted by : vikash rathi
	where it is written that...period between two agm must be 15 month...and with in 6 month from year ending so due date can be 30.09.2010

 Dear Vikas this question is to be decided under section 166 read with section 210.

Check section 166 for period between two agm must be 15 month...and

Check section 210 for 6 month limit.
 

Section 166(1) of the Companies act 1956 states that "not more then fifteen months shall elapse between the date of one AGM of the Company and that of the next".

Section 210(3) states that, " profit & loss account of the Company shall relate to the period beginning with the day immediately after the period for which the account was last submitted and ending with a day which shall not precede the day of meeting by more then six months."

Collectively, the date of AGM should be the within 6 months from the close of financial year or within 15 months from the last AGM, which ever is earliar.

Regards

Karan Ramchandani  

Could somebody help me in the following:

What would be the financial year of a company incorporated on 9th February, 2009 and when it has to hold the first AGM and also what would be the due date for holding AGM?

The first Financial year of the Company will be from 09th February, 2009 to 31st March, 2010. The first AGM is required to be held within 18 months from the date of incorporation as per Section 166(1) of the Companies Act, 1956. So the first AGM should be held on or before 8th August, 2010, which is also its due date.

Gentlemen

I agree with Karan Ramchandani.    If the AGM of the Company was held on 25.09.2009. agreed that the due date for AGM will be 30/9/2010. but nothing stops the company from holding the AGM earlier than the due date.  

The financial year of the company shall be determined by Board of directors of the company in first board meeting of the company.