FIRST AGM
swarna (student) (29 Points)
16 November 2018
a company incorporated on 30/09/16 then when it will take its first agm for the year???
2 Replies
Shivam RC
(Student)
(23683 Points)
Replied 17 November 2018
As per the Provision of Section 96 of the Companies Act 2013, Annual General Meeting ( AGM ) of a Company should be held in EARLIER of the following :
a). 6 Months from end of Financial Year, or
b). 15 Months from last AGM.
However, in case of First AGM, the Company can call it's AGM within 9 months from end of FY.
In your case , since it is a First AGM, you have to call AGM within 9 months from end of FY i.e. 31.12.2017 [ 31.03.2017 + 9 months = 31.12.2017 ].
Penalty will also be levied as per the Provision of Section 99 of the Companies Act 2013 for not calling the AGM within Time.
Regards.
a). 6 Months from end of Financial Year, or
b). 15 Months from last AGM.
However, in case of First AGM, the Company can call it's AGM within 9 months from end of FY.
In your case , since it is a First AGM, you have to call AGM within 9 months from end of FY i.e. 31.12.2017 [ 31.03.2017 + 9 months = 31.12.2017 ].
Penalty will also be levied as per the Provision of Section 99 of the Companies Act 2013 for not calling the AGM within Time.
Regards.
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