Exemption from Penalty for delayed Board meeting

Others 510 views 2 replies

Dear Sir/Madam,

We are Section-8 Charitable Pvt ltd Co with a smal size. We held AGM on 7.10.25 instead of 30.9.25 because the financials were signed by the auditor  with  the date as 7.10.25. Now can anybody guide me how to escape from compounding penalty. I heard that the penalty may  be in lakhs.Our company secretary has already filed MGT-7 and AOC-4 . KIndly guide me

 

Thanks

Regards

Mahesh S V

Replies (2)
Quick Summary
A 7-day delay in AGM for a Section 8 company can't be fully exempted, but penalty is usually not huge. File compounding (GNL-1) promptly to show good faith; cost is likely moderate, not in lakhs for such short delay.

  • Can you escape completely? No, because the forms are filed with the late date.

  • Will it cost lakhs? Unlikely for a 7-day delay if you file for compounding.

  • Immediate Action: Ask your Company Secretary to prepare the Compounding Petition (GNL-1) immediately to show good faith.

How much may be the penalty approximately sir. Wew are a small Section-8 Company with 12 employees


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details