first agm

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archana shah (Querist)
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25 April 2009 what will be the date of first agm if the co. incorporated on 31.03.2008 as per the provisions of the section 166 and 210 of the companies act, 1956

CS Vivek Hegde

CS Vivek Hegde (Expert)
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25 April 2009 Archana

The due date is 18 months from the date of incorporation(i.e 30.09.2009) or 9 months from the close of accounting year(i.e 31.12.2009)whichever is earlier.

So the due date for first AGM is 30.09.2009

Ankur Garg

Ankur Garg (Expert)
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13 May 2009 As per the provisions of section 166 the first AGM of the company should be held within 18 months form the date of incorporation.

your first financial would be from 01.04.2008 to 31.03.2009.

In your case 18 months as per section-166 expires on 30.09.2009.

SECTION--210

But as per section-210 balance sheet should lay before the members for approval in the AGM within 6 months (9 months in case of first AGM) from the close of financial year to which account relate.

So as per section 210 you can held your first AGM up to 31.12.2009 i.e. 9 months from the close of first financial year. but in that case violation of section-166 is due.

To conclude--if you hold your first AGM before the expiry of 30.09.2009 there would be no violation of section-166 or section-210.

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Best Regards

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