Regarding second and subsequent annual general meeting

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MOHAMMED JAVED MEMON (Querist)
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26 December 2012 Sir,
My Client has held AGM of FY-2010-2011 on 29.07.2011 and hold current financial year (FY-2011-2012) on 13.10.2012, due to availability of audited accounts on 29.09.2012 and held AGM after 14 days Notice.Whether, it is compulsory to file for extension of date to hold AGM or it will cover 15 months between two AGM (29.07.2011 to 13.10.2012).Pl.guide me to file Annual Return at earliest.

Ajay Mishra

Ajay Mishra (Expert)
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26 December 2012 Hi

Extension in time for holding annual general meeting
The power of the Registrar conferred by the second proviso to section 166(1) enabling him to grant extension of time to hold the annual general meeting is exercisable by the Registrar without restriction or qualification up to a limit of three months. He can, therefore, grant extension of time for special reasons up to the maximum limit of three months, even if such extension allows the company to hold its general meetings beyond the calendar year
The Registrar shall grant an extension of time for holding the annual general meeting of a company under the second proviso to sub-section (1) of section 166 only when the application for such extension is made to him before the expiry of the period laid down in sub-section (1) of that section. Therefore, if a company considers that it will not be possible for a company to hold the annual general meeting within six months from the conclusion of the financial year, the company shall make an application in the prescribed e-Form 61 (prescribed by the Notification No. GSR 56(E) dated 10th Feb., 2006 by the MCA) electronically with the Registrar before the due date for holding the said meeting. The application may be made by a letter giving full justification for seeking extension of time certified by the chartered accountant or company secretary or cost accountant in practice.

MOHAMMED JAVED MEMON

MOHAMMED JAVED MEMON (Querist)
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26 December 2012 Sir,whether, I can file Form 20-B as mentioning AGM Date 13.12.2012 ,AGM Due Date 30.09.2012 , any extension granted -No.in Form-20B,b'coz company has not requested fro any extension of AGM in Form 61 before due date of AGM.
If I file all Return i.e.20-B,23AC,23-ACA and 66 as per above dates mentioned,then, any penal provisions will be applicable or not.If, yes, then to what extent.

MOHAMMED JAVED MEMON

MOHAMMED JAVED MEMON (Querist)
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26 December 2012 Sir, Pl read AGM Date as 13.10.2012 instead of 13.12.2012.

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