Due date of agm

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Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2012 Kindly advice wht colud be solution :
A Pvt Ltd Company having share capital Rs 100,000/-
F.y. ends on 31/03/2011
last agm held on 29th Oct '2010(company incorporated in aug'2009)
Date of Balancesheet 30/09/2011
company conducts agm on 23rd Oct'2011
no extension of agm obtained.

Jiten Gupta

Jiten Gupta (Expert)

05 January 2012 The Period to which Annual Accounts relates is called Financial Year. your F.Y. ends on 31/03/2011 while date of B/S is 30/09/2011.

As per Section 166,

1.) There should be an AGM in each year.

2.) Not more than 15 months should elapse from the date of last AGM.

In Above Provisions u are ok

As per Section 210 which says AGM date shall not be a date greater than 6 months from the date to which P&L and B/S relates, so if ur B/S and P&L relates to the year ending 30/09/2011, Due date of AGM shall be 31/12/11.

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)

06 January 2012 Question seems unclear as you said that FY ends on 31-Mar-2011 and B/S date is 30-Sept-2011. It seems contradictory. Kindly explain whether B/S is "as on 30-Sept-2011" or it is "as on 31-Mar-2011" and date (of signing) is 30-sept-2011?

You have to read Sec 210 along with Sec 166 for last date of AGM which says that within 6 months from the date on which FY ends, you have to conduct AGM.

Regards

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