Extension for agm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2012 Dear Sir,
One of my client wants extension for AGM as the AGM was not held on 30 sept due to major accident of an Shareholder having more than 50% shares in company.
I want to know that with form 61 we also have to file his hospitalization papers or can ROC have right to check the hospitalization papers of shareholder..???

Ajay Mishra

Ajay Mishra (Expert)
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25 October 2012 Hi

Extension in time for holding annual general meeting
The power of the Registrar conferred by the second proviso to section 166(1) enabling him to grant extension of time to hold the annual general meeting is exercisable by the Registrar without restriction or qualification up to a limit of three months. He can, therefore, grant extension of time for special reasons up to the maximum limit of three months, even if such extension allows the company to hold its general meetings beyond the calendar year
The Registrar shall grant an extension of time for holding the annual general meeting of a company under the second proviso to sub-section (1) of section 166 only when the application for such extension is made to him before the expiry of the period laid down in sub-section (1) of that section. Therefore, if a company considers that it will not be possible for a company to hold the annual general meeting within six months from the conclusion of the financial year, the company shall make an application in the prescribed e-Form 61 (prescribed by the Notification No. GSR 56(E) dated 10th Feb., 2006 by the MCA) electronically with the Registrar before the due date for holding the said meeting. The application may be made by a letter giving full justification for seeking extension of time certified by the chartered accountant or company secretary or cost accountant in practice.

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