sec 96 agm

practically explain what this means


sec 96

agm of a newly incorporated company



 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
Replies (6)
for newly incorporated company it's not necessary to hold AGM in year of incorporation if the company
cont...... is incorporated on and after 1 St Janaury then its financial year can be exten to next 31 St March and time limit for newly incorporated company is 9 months from the end of financial year and for subsequent AGM it is 6 months
If company incorporated on 31/10/2017 then FY shall be 31/3/18 and company need to hold AGM by 31/12/2018 ,However If company incorporated in Jan 2018 First FY shall end on 31/3/19 and company need to hold AGM by 31/12/19 ,So If company held Its First AGM as aforesaid there is no need to hold AGM in Year of incorporation ,ie In First case in 2017 & in second case whole 2018,Also ROC cannot extend time for first AGM.
thank you very much
subsequent AGM shall be held up to 6 month from the end of financial year ..?
yes, subsequent AGM and every AGM after first AGM should be held within 6 months after the end of the financial year...

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