Holding of first agm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2014
A private limited company has been incorporated on 10th Feb 2013. The first financial year ends on 31.03. 2014.
As per Companies Act 2013 which is effective from 01.04.2014, first AGM in this case can be held by 31.12.2014 i.e. within 9 months from close of financial year. However, as per Companies Act 1956, first AGM in this case shall have to be held by 09.08.2014 i.e. within 18 months from the date of incorporation.
Whether Co. Act 1956 or 2013 shall apply in this case?
If Co. Act 1956 is applicable, whether the Act 2013 can be made applicable by extending the first financial year upto 30th Apr 2014?
As per Companies Act 2013 which is effective from 01.04.2014, first AGM in this case can be held by 31.12.2014 i.e. within 9 months from close of financial year. However, as per Companies Act 1956, first AGM in this case shall have to be held by 09.08.2014 i.e. within 18 months from the date of incorporation.
Whether Co. Act 1956 or 2013 shall apply in this case?
If Co. Act 1956 is applicable, whether the Act 2013 can be made applicable by extending the first financial year upto 30th Apr 2014?
CS Mitesh Mehta
(Expert)
29 December 2014
in your case first AGM need to be held on or before 31.12.2014 (9 months form the end of the financial year)
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