An AGM of a company was convened in November 2008. It was adjourned and the adjourned meeting was held in march 2009. The next general meeting was held in march 2010. The company was held liable for an irregularity in holding the AGMs. Decide. The company is guilty of violation of section 96 of the companies Act, 2013. However, please also read the power of the board to determine the time, date and place of the adjourned meeting.
agm should be held within 6 month of fy completion and here not held within 6 months i.e. seo-2008 and for two agm diff of time should be not more than 15 months here no clarification of previous agm so assume this condition fulfil so 1st condition violate.
if company incorporated in 2008 then they can held within 9 months instead of 6 months for first agm.