Late submission form 20b and return of share allotment

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Querist : Anonymous

Querist : Anonymous (Querist)

06 February 2013 We had started a Company in 02/06/11.100 share @ Rs.1000 issued and return filed.And we alotted another 700 shares but not file the return.The company has not yet start any work.
will you please inform me how to go ahead and what are the formalities
And pls give a small narration of this form 20b

Ajay Mishra

Ajay Mishra (Expert)
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07 February 2013 Hi

You should File Form-2 with ROC with additional payment.

If you have filed the same, then you will file Form-20B with in 60 days from the end of AGM.

Ajay Mishra

Ajay Mishra (Expert)
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07 February 2013
TIME-LIMIT FOR HOLDING THE FIRST ANNUAL GENERAL MEETING

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, namely, the date on which the Registrar has issued the certificate of incorporation to the company. If the first annual general meeting is so held, it is not necessary for the company to hold another annual general meeting in the year of its incorporation or in the following year. 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).

This may be illustrated by the following example: Date of incorporation of company 23-10-2010 Date by which the first annual general meeting ought to be held 22-04-2012 The holding of the first annual general meeting shall comply with the following criteria of the Act:—
(i) The gap between the last date of the accounting period and the meeting shall not exceed 9 months, and
(ii) The second annual general meeting shall be held during the third year of incorporation.

Therefore, in the above example assuming that the first accounts shall be for the period from 23-10-2010 to 31-3-2011 The first AGM was to be held on or before (within a gap of nine months) 31-12-2011 The accounts for next period will end on 31-03-2012 The second AGM will be held on or before (namely the third year after incorporation) 30-09-2012

In the above example, since it was proposed to close the first accounts as on 31-03-2011, the first annual general meeting could be held before 31-12-2011 and the second annual general meeting could be held during the third year of incorporation. As explained above there is no need to hold annual general meeting in the first calendar year of its incorporation, i.e. 2010

Ajay Mishra

Ajay Mishra (Expert)
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07 February 2013
TIME-LIMIT FOR HOLDING SUBSEQUENT ANNUAL GENERAL MEETINGS

As mentioned above, every company shall hold every year an annual general meeting and ordinarily there shall not be a gap of more than fifteen months between two such meetings. Further that in terms of the provisions of section 210 an annual general meeting shall be held within a period of six months from the end of the financial year whose accounts are proposed to be considered at the said annual general meeting. Accordingly, it is the rule that a company whose financial year ends on 31st March, shall hold its annual general meeting by 30th September every year.

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2013 Thank you for the reply Sir. will you please inform me how much is filing fee for filing the return of allotment of shares

Ajay Mishra

Ajay Mishra (Expert)
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07 February 2013 Hi

It will normal fee of Rs. 500/- and additional fee with 9 time of normal fee, i.e. Rs. 4700/-.

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2013 Hi Sir,
Will you please explaine me the rights of 49% share holders and 51% shares holders in a private limited company. What are the additional rights to the 51% share holders than the 49% holder and also the rights Chief Executive Officer

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2013 Sir,
Will you please give me format of Notice to the directors to give information reagrding the Annuel General Meeting and board meeting

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