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Time limit for AGM
within which any AGM, shall be held, by a period not exceeding three months. However, the
Registrar cannot provide extension in case of the First AGM.
Yes as per the provisions of Section 96 of the Companies Act, the ROC under special circumstances may grant extension of AGM for maximum period of 3 months . (15+3). But before extension , the Company has to file Form GLN 1 to ROC along with the following attachments.
Request letter for extension of AGM along with the reason for extension.
Certified true copy of resolution for extension of AGM,
if ROC is satisfied with the genuiness of the reason , then ROC can grant extension for maximum period of 3 months.
what would be penalty ?
If the Company fails to comply with the provisions of Section 96 of the Companies Act 2013, for not conducting Annual General Meeting of the Company, then in such scanerio, tribunal may call the Annual General Meeting on the request of member of the Company. and if company fails to comply with the order of the tribunal then every officer of the Copany who is in default shall be punishable with the fine which may extend to Rs. 1,00,000/- and if the offence is the continuing one, then Rs. 5000 for every day the default continous. However not conducting AGM is non cozinable offence and can be compounded under section 441 of the Companies Act 2013
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