15 September 2011
AGM could not be held even at short notice due to delay in audit. 1.)What kind of reason be given to ROC for extension? 2.)If ROC does not agree and refuse to give the extension, what is the remedy.
15 September 2011
Delay in the completion of audit of accounts is not a "special reason". However, if due to some unforeseen and unexpected difficulty beyond the control of the company due to which in spite of planning and efforts it could not complete the audit that will be a special reason for obtaining extension of time. Not holding AGM, the company and every officer of the company punishable with a fine up to Rs 50,000, if default continues Rs 2500 for every day after first default.
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