Due date of agm

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Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2012 N LTD INCORPORATION DATE 19/01/2011
AND HE HAS ENDED FINANCIAL ON 31.03.2011
AND HAS NOT DONE ANY ROC FILLING TILL NOW.
MY QUERY IS WHAT IS THE LAST DUE DATE OF AGM THAT CAN BE HELD FOR THE YEAR END 31.03.2012??

Ajay Mishra

Ajay Mishra (Expert)
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13 December 2012 Hi

Please check what is first Financial Year is decided for ROC and other purposes. If FY is ended as on 31.03.2012 then your due date will be for holding first AGM till 31.12.2012.

Please check first financial year.

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2012 for f.y. 2012.But 18 Months From the incorporation date (i.e.19/01/2011) is ending on 19/07/2012 as per sec 166 and as per sec 210 last date of agm can be 31/12/2012.
If we Follow sec.166 then it will be Violation of sec.210

So WHat Can Be Last date Of agm?????

Ajay Mishra

Ajay Mishra (Expert)
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13 December 2012 TIME-LIMIT FOR HOLDING THE FIRST ANNUAL GENERAL MEETING

A new company which is registered under the Act, shall hold its first annual general meeting latest within a period of eighteen months from the date of its incorporation, namely, the date on which the Registrar has issued the certificate of incorporation to the company. If the first annual general meeting is so held, it is not necessary for the company to hold another annual general meeting in the year of its incorporation or in the following year. It may also be noted in this connection that the accounts placed before the first annual general meeting shall be for the period beginning from the date of incorporation and ending on a day of financial year, which will not precede the first annual general meeting by more than nine months from the close of the first financial year of the company — section 210(3).

This may be illustrated by the following example: Date of incorporation of company 23-10-2010 Date by which the first annual general meeting ought to be held 22-04-2012 The holding of the first annual general meeting shall comply with the following criteria of the Act:—
(i) The gap between the last date of the accounting period and the meeting shall not exceed 9 months, and
(ii) The second annual general meeting shall be held during the third year of incorporation.

Therefore, in the above example assuming that the first accounts shall be for the period from 23-10-2010 to 31-3-2012 The first AGM was to be held on or before (within a gap of nine months) 31-12-2011 The accounts for next period will end on 31-03-2012 The second AGM will be held on or before (namely the third year after incorporation) 30-09-2012

In the above example, since it was proposed to close the first accounts as on 31-03-2011, the first annual general meeting could be held before 31-12-2011 and the second annual general meeting could be held during the third year of incorporation. As explained above there is no need to hold annual general meeting in the first calendar year of its incorporation, i.e. 2010

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2012 So in My Case the first financial is closed on 31.3.2011(19.01.2011 to 31.3.2011)
and no agm is held in the first year but for the period of 1.4.2011 to 31.3.2012 the last due date of agm will be 19.07.2012???

Please rectify me If I am not Correct...

Ajay Mishra

Ajay Mishra (Expert)
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13 December 2012 Hi

Yes, For ROC purpose, your first AGM is in year 2012.

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