27 November 2010
The company has been granted extension of financial year from 31/03/2010 to 30/09/2010. The company seeks to apply for extension of time limit for holding the AGM for the financial year ended 30/09/2010 as extended. What is maximum possible extension in view of Sec. 166(1) and 210(3)? If extension is not so granted, what will be due date for holding the AGM?
27 November 2010
The company can hold AGM within 15 months from the date of last AGM.With the special permission of ROC, it may be extended for 3 months. Hence in your case AGM may be conducted on or before 31.12.2010 with the special permission of ROC. Hoeever the permission has to be obtained before the due date of holding AGM.
Further, though the accounts are not ready, you can conduct AGM before the due date and may be adjourned to adopt accounts. Please refer notes under Section 166 of "The Guide to Companies Act, 1956" by Mr.A.Ramaiya
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