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)
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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)
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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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