annual general meeting

hi

read section 166 it will clarify your doubt.

According to sec 166 of the companies act a company may hold its first annual general meeting within a period of not more than eighteen months from the date of its incorporation; and if such general meeting is held within that period, it shall not be necessary for the company to hold any annual general meeting in the year of its incorporation or in the following year;

and in succeeding years it should be before 30th september and keep in  notice that the time should between the two AGM  should not more then 15 month. 

clerify ,,,,,,,,,,,,,,,,if required

Hi,

Due date for First AGM: 18 months from the date of incorporation or 9 months from the date of close of accounts whichever is earlier.

Upto my understanding;

Uu can prepare the Financial Statements for 15 months that is wef 11/01/2010 to 31/03/2011 and in this way the due date for AGM will be upto June 2011. Because first AGM can be held within 18 months of Incorporation but if u are preparing accounts upto 31/03/2010 then it will be upto 31/12/2010.

Regards,

Hi,

Kindly appreciate:

First decide what is your financial year—Your first financial year would be from 11.01.2010 to 31.03.2011 i.e. a period of 14 months and 21 days.

As per my understanding you don’t have to file Annual Accounts in the year 2010. Your Annual Filing due in 2011. No need to hold AGM in 2010 at all.

 Applicability of Section-166 read with section-210 suggest in your case

As per Section-166 last date for holding your AGM would be July 10, 2011 i.e. 18 months from the date of incorporation of the company.

As per section-210 Balance Sheet & Profit and Loss A/c shall lay before the members in case of first AGM within 9 months from the end of financial year i.e. last date for holding your AGM as per section-210 would be December 31, 2011.

Conclusion as per the rule of Harmonious construction

As per my opinion your first financial year is ending on March 31, 2011 and as per section-210 you may hold your first AGM up to December 31, 2011. But here if you follow section-210 blindly without application of section-166 then there would be violation of section-166 regarding First AGM in 18 months provision.

Final Answer—So in your case last date for holding first AGM would be July 10, 2011 which is in line with the provisions of both the sections.

Best Regards

i m filing annual ac/s for year ending 31/03/2010. So  technically the due date comes down to 31/12/10.. Am i correct.....

Definetely, it must be upto 31.12.2010.

Regards,

Originally posted by : jasprit
	i m filing annual ac/s for year ending 31/03/2010. So  technically the due date comes down to 31/12/10.. Am i correct.....

Annual Accounts for 2 months and 21 days---What are you talking about? This shows your ignorance regarding the calculations to your seniors. Try and convince your seniors for the FY of more then 12 months which is legally possible in your case. Read my reply carefully and analyse yourself.

However filing for 2 months and 21 days is possible but doesn't make any sense. So decide accordingly.

Regards

Best Regards

Thank you all so very much for your promptness....

Quick revision for Annual General Meeting

As per Sec. 166, every company must hold AGM in addition to any other meetings at stipulated interval specifying the meeting as such in the notice calling the meeting.

The AGM should must be held with in 18 months of incorporation. And this can only be extended by  the registrar on special reason for maximum 3 months.   

Interval between the two AGMs

1.        For First AGM

·         Within 18 months from the date of incorporation.

2.        For Subsequent AGMs [Sec. 210 should be read with sec. 166(1)]

·         The meeting must be held in each year

·         It must not held later than 15 months from the date of previous AGM

·         It must not held later than 6 months from the date of Balance Sheet date.

3. The date of the First AGM must be with in 9 months from the date of financial year for which P&L A/c has been made.

due date for first AGM Due date  18 months from the date of incorporation or 9 months from the date of close of accounts whichever is earlier.

Well Done Ankur Sir 

You are explained it very well..

Thank you...

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