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Reg.ist agm

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03/09/2011 01:23:00  



I have a doubt regarding the conduct of ist agm. The company is a pvt ltd; co inc on 3.12.2009. The Ist agm is thus to be held on or before 02.06.2011.ie; the accounts to be adopted at the ist agm are from 03.12.2009 to 31.3.2011 ( as the fin.year cannot exceed 15 months as per sec.211) however, the co; has filed income tax return for the fin.year ended 31.3.2010 . so, now can the agm approve the accounts of 31.3.2010 and 31.3.2011 in a single agm. The notice of agm mentions adoption of annual accounts. Will the word annual be broad enough to cover the entire period of 15 months ie; 3.12.2009 to 31.3.2011 or should we show the adoption of accounts of years 31.3.2010 and 31.3.2011 separately. will i have to take the cut off date for the  15 month period as 3.3.2011 as per sec.210(4)

Replies (1)

dear pratibha,

It is clearly mentioned in section 166 (1) that company may hold its first annual general meeting within a period of not more than eighteen months from the date of its incorporation; and if such general meeting is held within that period, it shall not be necessary for the company to hold any annual general meeting in the year on its incorporation or in the following year

Regards,

Shivi


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