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Waive off of penalty for Delay in AGM

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CA Bhavika Tourani

CA Bhavika Tourani (Querist)
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22 January 2025 If a company delays conducting AGM is there any option to pay less penalty?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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23 January 2025 The Registrar of Companies (RoC) has the authority to grant an extension of up to three months for holding an AGM. Companies must apply for this extension using e-form GNL-1, providing valid reasons for the delay. If granted, this extension can help avoid penalties.
In some cases, if the delay was due to unforeseen circumstances or if the company can demonstrate that it acted in good faith and took steps to comply with legal requirements as soon as possible, this may be taken into account during penalty assessments or appeals.

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