company law

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satish (Querist)
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08 October 2010 If we conduct agm after the period falling under section 166 and 210 then agm held is not void?
As per section 168 penalty for not conducting agm is rs 50000 and rs 2500 per day till the default continues.
I want to ask that is there the same penalty for not conducting agm and agm conducted after period falling under section 166 and 210.

Ankur Garg

Ankur Garg (Expert)
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08 October 2010 Penalty is not in lieu of AGM holding. AGM holding is must. If you fail to hold AGM with in the statutory period fixed by section 166 read with section 210 then you have to go for compounding of offence u/s 621A. There is no other option to cure this default.

If possible show AGM in back date with in statutory period.