15 March 2021
IF A PRODUCER COMPANY IS INCORPORATED ON 14TH OF DECEMBER WHAT SHOULD BE THE FINANCIAL YEAR FOR 1ST AGM & WHEN FORM AOC-4, ADT-1 & MGT-7 NEED TO BE FILE
10 July 2024
When a producer company is incorporated on December 14th, the financial year and subsequent AGM timelines are determined as follows:
### Financial Year for First AGM:
1. **First AGM Timing:** - The first Annual General Meeting (AGM) of the producer company must be held within 9 months from the end of the financial year. - Since the financial year ends on March 31st of each year for companies in India, the first AGM should ideally be held by December 31st of the following year.
2. **Financial Year:** - For a producer company incorporated on December 14th: - The first financial year would be from December 14th (date of incorporation) to March 31st of the following year. - Subsequent financial years would be from April 1st to March 31st annually.
### Timeline for ROC Filings:
1. **Form AOC-4:** - **First AGM (for the period December 14th to March 31st):** File Form AOC-4 within 30 days from the date of AGM. - **Subsequent AGMs:** File Form AOC-4 within 30 days from the date of AGM, annually.
2. **Form ADT-1:** - File Form ADT-1 for appointment/reappointment of auditors within 15 days from the date of AGM where such appointment/reappointment is made.
3. **Form MGT-7:** - **First AGM (covering December 14th to March 31st):** File Form MGT-7 within 60 days from the date of AGM. - **Subsequent AGMs:** File Form MGT-7 within 60 days from the date of AGM, annually.
### Example Timeline:
- **Date of Incorporation:** December 14, 20XX - **Financial Year 1:** December 14, 20XX to March 31, 20XX+1 (provisional financial year for first AGM) - **First AGM Deadline:** By December 31, 20XX+1 (within 9 months from March 31, 20XX+1) - **Form AOC-4 for First AGM:** Within 30 days from the date of AGM (provisional accounts for December 14, 20XX to March 31, 20XX+1) - **Form MGT-7 for First AGM:** Within 60 days from the date of AGM - **Subsequent AGMs:** Annually, within the respective timelines based on the financial year ending March 31st.
### Conclusion:
By following these timelines and filing requirements, you can ensure compliance with the Companies Act, 2013, and ROC regulations regarding AGMs and annual filings for your producer company. It's advisable to consult with a company secretary or legal advisor to ensure all statutory requirements are met accurately and on time.
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