Agm held two times in a year

This query is : Resolved

Guest

Guest (Querist)

09 December 2011 Dear Friends & Experts,

Please clarify the following query :

ABC Private Limited had AGM on 10.04.2011 for the financial year ending 31.03.10.

Query

How about the AGM for the financial year ending 31.03.11.

Ans : .................

Unable to understand TWO AGM in one year.

Please clarify the position.

Thanks...

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 December 2011 First of all how AGM for year ending 31.03.2010 was held on 10.04.2011? First clarify on that part.

Also the AGm for year ending 31.03.2011 has to be held by 30th September except in case where extension has been granted by the ROC.

Sanat Doshi

Sanat Doshi (Expert)
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11 December 2011 Read Sec. 166 with Sec. 210 (Companies Act) where an AGM has to be conducted
1.Within 6 months from the end of the financial year.
2. Atleast one AGM in one calender year.
3. Gap between two AGM's should not exceed one financial year.
All the above conditions are cumulative, so at the first place AGM for 31.3.2010 cannot be held on 10.4.2011 as it doesnt satisfy the first condition.
Hope this solves your query.

Regards,
Sanat Doshi

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Charu Srivastava

Charu Srivastava (Expert)
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11 December 2011 AGM can be held within 6 months of the close of financial Year(that means it should be held before or on 30 September, 2011) and gap betweem two AGM should not exceed 15 months.

In ur case AGM held is valid.

Sanat Doshi

Sanat Doshi (Expert)
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12 December 2011 Dear Charu,
How can a AGM for F.Y 2009-2010 be held in 2011. As per the provisions of Companies Act ,no AGM can be held after 6 months from the end of F.Y. So in the above case AGM for F.Y 2009-2010 should have been conducted before 30th September 2010.

@ Anonymous: 2 AGM can take place in the same year. There is no such clause in the Companies Act which says that 2 AGM's cannot take place in the same year.

Regards.

Charu Srivastava

Charu Srivastava (Expert)
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12 December 2011 Oh sorry i didnt notice here the financial year ended is 31.03.2010...

As far as only one Annual General Meeting can be held..and other meeting of Shareholder is known as General Meeting.