Ad-Free CAclubindia and daily updates on your mobile. Subscribe Now!

sec 96 agm

10 March 2018

practically explain what this means

sec 96

agm of a newly incorporated company

if a company holds its first annual general meeting as aforesaid, it shall not be necessary for the company to hold any annual general meeting in the year of its incorporation

Reply
Follow
Share

6 Replies

Nisha Bhanushali (professor ) (26 Points)
Replied 10 March 2018

for newly incorporated company it's not necessary to hold AGM in year of incorporation if the company

Nisha Bhanushali (professor ) (26 Points)
Replied 10 March 2018

cont...... is incorporated on and after 1 St Janaury then its financial year can be exten to next 31 St March and time limit for newly incorporated company is 9 months from the end of financial year and for subsequent AGM it is 6 months

Chirag (Professional) (1979 Points)
Replied 10 March 2018

If company incorporated on 31/10/2017 then FY shall be 31/3/18 and company need to hold AGM by 31/12/2018 ,However If company incorporated in Jan 2018 First FY shall end on 31/3/19 and company need to hold AGM by 31/12/19 ,So If company held Its First AGM as aforesaid there is no need to hold AGM in Year of incorporation ,ie In First case in 2017 & in second case whole 2018,Also ROC cannot extend time for first AGM.