First agm of company
This query is : Resolved
18 November 2013
Date of Incorporation is 30/07/2012 then what will be the due date of first AGM ?????
18 November 2013
As per Section 166 of the Companies Act The first AGM is to be held within 18 months from dateof incorporation.i.e. 29.01.2014.
18 November 2013
Last date for holding AGM in your case will be December 31, 2013.
This date is in accordance with section 166 read with section 210.
Thanks
Ankur
This date is in accordance with section 166 read with section 210.
Thanks
Ankur
18 November 2013
Sir
As per section 166 AGM should be held within 18 months fron date of incorporation.
As per Section 210 i draw the following understanding:
1.Financial Year may be less then or more than a calender year but shall not exceed 15 months for the purpose of accounts mentioned in the section i.e. first profit and loss and balancesheet.
2.The first Profit and loss accounts presented in the first AGM shall be of a period not preceeding the date of AGM by 9 months.
Sir from the above facts it can be clearly drawn that AGM can be held within 18 months i.e.29.01.2014 whereas the 1st accounts could be drwan upto 31.10.2013.
Please provide your advice on same.
As per section 166 AGM should be held within 18 months fron date of incorporation.
As per Section 210 i draw the following understanding:
1.Financial Year may be less then or more than a calender year but shall not exceed 15 months for the purpose of accounts mentioned in the section i.e. first profit and loss and balancesheet.
2.The first Profit and loss accounts presented in the first AGM shall be of a period not preceeding the date of AGM by 9 months.
Sir from the above facts it can be clearly drawn that AGM can be held within 18 months i.e.29.01.2014 whereas the 1st accounts could be drwan upto 31.10.2013.
Please provide your advice on same.
18 November 2013
Hi Annu,
I would request you to again check language of section 210(3)(a).
In the above case first FY of the company would be from 30/07/2012 to 31/03/2013.
Balance sheet will be prepared for the period 30/07/2012 to 31/03/2013 will be considered by the shareholders within 9 months from the date of closure of FY 2012-13.
If we fixed the date of AGM as per 18 month, there will be a breach of 9 month time line given in section 210.
Plz analyse again.
Ankur
I would request you to again check language of section 210(3)(a).
In the above case first FY of the company would be from 30/07/2012 to 31/03/2013.
Balance sheet will be prepared for the period 30/07/2012 to 31/03/2013 will be considered by the shareholders within 9 months from the date of closure of FY 2012-13.
If we fixed the date of AGM as per 18 month, there will be a breach of 9 month time line given in section 210.
Plz analyse again.
Ankur
18 November 2013
Sir
I agree with you know as after a reading of the defination of financial year provided in the Companies Act 2013 a financial year has to end on 31st of march.
The defination reads as follws:
(41) “financial year”, in relation to any company or body corporate, means the
period ending on the 31st day of March every year, and where it has been incorporated
on or after the 1st day of January of a year, the period ending on the 31st day of March
of the following year,"
Thanku for your advice.
Regards
I agree with you know as after a reading of the defination of financial year provided in the Companies Act 2013 a financial year has to end on 31st of march.
The defination reads as follws:
(41) “financial year”, in relation to any company or body corporate, means the
period ending on the 31st day of March every year, and where it has been incorporated
on or after the 1st day of January of a year, the period ending on the 31st day of March
of the following year,"
Thanku for your advice.
Regards
18 November 2013
You are welcome.
Keep discussing your doubts.
Regards
Keep discussing your doubts.
Regards
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