Delay in AGM

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Santanu Banerjee (Querist)
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20 September 2010 If AGM of a pvt. ltd co. could not be held within 30.9.10 for 2009-10 due to non completion of Audit what are the steps the co. have to take to get a permission from RoC to held AGM within Dec,10. The date of last AGM held is 30.09.2009 for 2008-09?

Chandranil

Chandranil (Expert)
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21 September 2010 Hello,

For extension of AGM following steps need to be taken

1. Hold Board Meeting - pass a resolution for seeking extensio of time for holding AGM .time within which AGM should be held is governed by sec 166 and 210 this sec are not relevant in such case

2. appication to ROC - an application in form 61 should be made to ROC seeking extension, mention the clear reason for seeking extension

3. Application can be filed by MD / Director/ Secretary

4. attach to Form 61 copy of Board Resolution ,detailed application giving justification for extension

delay in completion of accounts cannot be ordinarily constitute special reason for extension of AGM Pls refer press note issued by DCA - dated 29 - 1 - 1959

its the ROC discrinatory power to grint time in case of extension to the max he can extend for 3 months

on being satisfied ROC grants estension

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Santanu Banerjee

Santanu Banerjee (Querist)
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21 September 2010 Sir,

If the AGM is held within 30.09.2010. without adoption of accounts and the AGM is adjourned. Then what is the time limit to hold the adjourned AGM for adoption of accounts?
Is the permission of RoC required in this case?

Jagruti (CS)

Jagruti (CS) (Expert)
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21 September 2010 No, adjourned meeting need to be held within a weeks time. i,e, same day & time in next week.

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Chandranil

Chandranil (Expert)
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23 September 2010 As per my knowledge,

If u refer section 210(3) (b) of companies Act the accounts need to be adopted before 6 months from year ending ie 30/09/2010 unless there is extension form ROC, hence if your are holding AGM with out adoption then you need to get ROC approval for extension.

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