Annual general meeting - sec 96 of companies act 2013

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S.Abdulmazeed (Querist)
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18 April 2017 Hello Everyone.
Can a private limited company hold its first annual general beyond the 9 months from the end of the first financial year?
If yes, What are the consequences need to be fulfilled by the company.

CS Divesh Goyal

CS Divesh Goyal (Expert)
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19 April 2017 Dear Professional,

As per Act, Provided that in case of the first annual general meeting, it shall be held within a period of nine months from the date of closing of the first financial year of the company

if Company fails to hold AGM with in 9 month then follow below mentioned consequences will be on the Company.

99. If any default is made in holding a meeting of the company in accordance with section
96 or section 97 or section 98 or in complying with any directions of the Tribunal, the
company and every officer of the company who is in default shall be punishable with fine
which may extend to one lakh rupees and in the case of a continuing default, with a further
fine which may extend to five thousand rupees for every day during which such default
continues.