Ist balance sheet & agm

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C.A. Deepak Kakkar (Querist)
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28 January 2012 Dear All

Please help me on following:

One of my client is pvt. ltd. co. incorporated on 08.12.2008 could not file its accounts till today. Now it wants to file ROC returns.

What should be first financial year & when should first AGM be held.

Regards
Deepak

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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30 January 2012 Date of Incorporation - 8/12/2008

A new company which is registered under the Act, shall hold its first annual general meeting latest within a period of eighteen months from the date of its incorporation.
Therefore, Date by which the first annual general meeting ought to be held- 7/6/2010

It may also be noted in this connection that the accounts placed before the first annual general meeting shall be for the period beginning from the date of incorporation and ending on a day of financial year, which will not precede the first annual general meeting by more than nine months from the close of the first financial year of the company-section 210(3).

In your case, you have to close the first accounts as on 31-03-2009, the first annual general meeting could be held before 31-12-2009.

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