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First AGM

Satish Kavitake (395 Points)

14 November 2018

whether ADT-1 is required to file for first financial year..

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Sudarshan Sarda (CHARTERED ACCOUNTANT) (241 Points)
Replied 14 November 2018

Originally posted by : Satish Kavitake
	whether ADT-1 is required to file for first financial year..

YES

Vibha Trivedi (437 Points)
Replied 14 November 2018

ADT 1 for apointment of First Auditor is not required to be filed. The first auditor holds office till the conclusion of the first AGM.

The intimation of Appointment of subsequent auditor in AGM is given in ADT 1 to the ROC within 15 days of the date of AGM.

1 Like

Satish Kavitake (395 Points)
Replied 14 November 2018

what will be penalty or fine if adt1 is filed after 45 days of agm

Nivedita (SME - Finance) (758 Points)
Replied 14 November 2018

The late fees for ADT1 is Rs 100 per day after June 30 2018

Vibha Trivedi (437 Points)
Replied 14 November 2018

Sir,

The Company shall have to bear four times of normal fees as additional fees for delay beyond 45 days in addition to normal fees.

The normal fees depends on authorised share capital of the company.

Nominal capital less than 1 lakh - Normal fees is 200, b/w 100000 to 499999 normal fees 300, 500000 to 2499999 normal fees is 400, 2500000 to 9999999 normal fees is 500 10000000 or more normal fees is 600.

You can enquire fees on MCA portal.

Rupees 100 fees per day is applicable on AOC 4 and MGT 7 which is waived off upto 31 december, 2018. It is not applicable on ADT 1.

Satish Kavitake (395 Points)
Replied 14 November 2018

ok thank you all..

Nivedita (SME - Finance) (758 Points)
Replied 14 November 2018

>30 days and up to 60 days- 4 times of normal fees

>60 days and up to 90 days- 6 times of normal fees

>90 days and up to 180 days- 10 times of normal fees

> 80 days - 12 times of normal fees

Puja Sharma (CA) (433 Points)
Replied 14 November 2018

No ADT-1 is not required to be filed for 1st Auditirs. The same is required for appointment of subsequent auditors.

swarna (student) (29 Points)
Replied 16 November 2018

well if the company have incorporated on 30/09/16 then when will be first agm accordingly for year 2016-17

Vibha Trivedi (437 Points)
Replied 16 November 2018

If the company got incorporated on 30/09/16 then first AGM should be held on or before 31st December,2017.

1 Like

swarna (student) (29 Points)
Replied 16 November 2018

In that case is AOC 4 & MGT 7 will be filled for year 16-17 ??

Vibha Trivedi (437 Points)
Replied 16 November 2018

Yes, AOC 4 and MGT 7 will be filed.

Satish Kavitake (395 Points)
Replied 19 November 2018

when will be the first AGM to be held??

Puja Sharma (CA) (433 Points)
Replied 19 November 2018

Section 96(1) of the Companies Act, 2013 reads as under:

"(1) Every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next: Provided that in case of the first annual general meeting, it shall be held within a period of nine months from the date of closing of the first financial year of the company and in any other case, within a period of six months, from the date of closing of the financial year:

Provided further that 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.

Provided also that the Registrar may, for any special reason, extend the time within which any annual general meeting, other than the first annual general meeting, shall be held, by a period not exceeding three months."