27 December 2013
A Company may hold its Annual General Meeting within a period of 18 months from the date of its incorporation. If such AGM is held within that period, it shall not be necessary for the company to hold any AGM in the year of its incorporation or the following year.
For Example: if a company is incorporated in December, 2008, it may hold its First AGM in April, 2010 and that meeting will be deemed to be the AGM for 2008, 2009 and 2010.
It must be noted that the time for holding the AGM cannot be extended by any authority under any circumstances.
A Company is required to hold an AGM in every calendar year.
The Time lag between two successive AGM shall not exceed 15 months which may further be extended by the Registrar by 3 months.
As per Section 210 of the Companies Act, 1956, the Company must lay before the Annual General Meeting, the profit and loss account within 9 months of the close of its first financial year in case of its First Annual General Meeting and within 6 months of the close of its relevant financial year in case of subsequent Annual General Meeting.
As per the interpretation the first annual general meeting of the company must be held with in 18 month from the date of incorporation or within 9 months from the close of its first financial year, whichever is earlier.
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