Failure to held First AGM on time

If a company fails to hold its first Annual General Meeting (AGM) within nine months of its first financial year-end, there are serious consequences. No extensions are granted by authorities. However, any company member can apply to the Tribunal, which can then call or direct the calling of the AGM and issue further instructions. Companies may also receive notices from the MCA for compounding offences or can initiate the process themselves.