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Mr co Limited could not holds for first AGM within 9 months from the close of financial year the board of director of company by a resolution decide not to call first AGM at all on the ground that most of the director was outside India on a business trip since the company was under gestation period it would cost the company heavily.Referring to the provision of the act examine whether bod decisions is legally justified
Replies (3)
If AGM is not held within the time limit given under section 96, company and evry officer is liable for punishment as per section 99.. Directors should have applied for extension of AGM in ur case
and what course of action is open to company if one of the members writes to company for holding the meeting though the statutory time limit is over
Compounding of offences can be done
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