AGM after due date

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 November 2010 if a co's balance sheet signed on 27th sept and shows its board meeting on 27th sept to adopt the audited balance sheet. when we can held the AGM to approve final accounts and will there any default if we can not held our AGM before due date i.e. 30.9.10. is any permission required for this

udit sharma

udit sharma (Expert)
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16 November 2010 Hi......

Pursuant to the provisions of section 210 of the Companies Act, 1956 if the financial year of the Company ends on 31st March, then the AGM for adoption of Annual Accoounts has to be held within 6 months from the end of the financial year i.e. by 30th September. However, on an application made in this behalf, the Registrar may extend the period within which the AGM has to be held for a period not exceeding 3 months.

In case of first AGM, it is has be held within 18 months from the date of incorporation and within 9 months from the end of the financial year and no extension as aforesaid is available in case of First AGM!!!!

Hence, you should make an application to the Registrar for seeking the extension of time for holding the AGM of the Company and should hold the AGM within the extended time period!

Views of other eminent experts are welcome:-)

Best Regards

Udit Sharma