Adoption of balance sheet

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Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2012 The company incorporated as on january 2011, conducting the AGM in the month of June 2012. In that AGM adopt the balance sheet from 01-01-2011 to 31-03-2011 and from 01-04-2011 to 31-03-2012. Could I adopt the two balance sheets at one AGM or Not and WHY??

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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09 July 2012 The 1st AGM of a company must be held within 9 months from the date on which the 1st Financial Year ends.

The 2nd and subsequent AGM must be held within 6 months from the date on which the Financial Year for which a P & L Account is prepared, ends.

In your case,First financial year ended on 31/03/2011 & second financial year ended on 31/03/2012.

To comply with the provision of Sec 210(3)(a) & (3)(b) of the companies act;

Date of 1st AGM- On or before 31/12/2011
Date of 2nd AGM- On or before 30/09/2012

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2012 Thanks for reply

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