Notice of agm

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Dharam Vinesh Shethia (Querist)
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27 November 2013 can notice of AGM given while Final Accounts are Pending for Audit Purpose...??? And we are very much sure that it will complete before AGM.

Annu Agarwal

Annu Agarwal (Expert)
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27 November 2013 Yes,notice can be given as there is no such requirement in law that notice for AGM is to be given after finalization of accouts.
But definately as per the practice prevalent the audited accounts must be discussed in the AGM.So the Accounts must be audited before the date of AGM not necessary before the date of issuance of notice for AGM.

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Ajay Mishra

Ajay Mishra (Expert)
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27 November 2013 The Balance sheet and Profit & Loss Account along with Director's Report should be approved before the adoption of notice calling AGM.

In any case, you can not approve draft notice of AGM before adoption of Balance Sheet.

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Annu Agarwal

Annu Agarwal (Expert)
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27 November 2013 Agreed with Ajay Sir.
As per section 171-172 of the Companies Act -The notice of the meeting must be accompanied by a copy of the annual accounts of the company, director’s report on the position of the company for the year and auditor’s report on the account.

Therefore the notice for AGM cannot be issued before finalization of accounts.

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