AGM and Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 April 2011
If a company is incorporated in Dec 2009, when should it have its first AGM and what is the maximum period within which it should close its accounts.
If the company still has not closed its accounts or had its AGM what is the recourse to the company?
Please advise.
Please advise as to what period the company can close its accounts and when it can have its forst and second AGM
If the company still has not closed its accounts or had its AGM what is the recourse to the company?
Please advise.
Please advise as to what period the company can close its accounts and when it can have its forst and second AGM
udit sharma
(Expert)
06 April 2011
Hi...
As per the provisions of section 166 of the Companies Act, 1956 every Company is required to convene its First AGM within 18 months from the date of incorporation. Your Company was incorporated in Dec. 2009, so have to convene the first AGM of the Company in or before June, 2011.
In case the first financial year of the Company is from Dec2009 to March 31, 2010, the First AGM should be held on or before 31st Dec. 2010 as per the provisions of Section 210 of the Companies Act, 1956.
If the Second financial year of the Company is from 01.04.2010 to 31.03.2011, the second AGM should be held on or before 30.09.2011.
As per the provisions of section 166 of the Companies Act, 1956 every Company is required to convene its First AGM within 18 months from the date of incorporation. Your Company was incorporated in Dec. 2009, so have to convene the first AGM of the Company in or before June, 2011.
In case the first financial year of the Company is from Dec2009 to March 31, 2010, the First AGM should be held on or before 31st Dec. 2010 as per the provisions of Section 210 of the Companies Act, 1956.
If the Second financial year of the Company is from 01.04.2010 to 31.03.2011, the second AGM should be held on or before 30.09.2011.
Jayashree S Iyer
(Expert)
06 April 2011
Since you have not closed your accounts yet, you can have your first accounting period from Dec. 2009 to 31/03/2011 and hold your first AGM before June, 2011.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
