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agm

04 July 2007

a public limited company not having AGM since last few years , suggest what are the formalities to regulerise the default

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2 Replies

Amit Sureka (Finance Manager-India) (251 Points)
Replied 01 October 2008

Please consult any praticing CS /CA as it has lots of procedure to be followed.

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shirin bhatt (Company Secretary in Practice) (65 Points)
Replied 05 October 2008

As per Section 168 following is the penalty for non compliacnce of Sections 166 or 167 which require holding of an AGM every year:

If default is made in holding a meeting of the company in accordance with section 166, or in complying with any directions of the [Tribunal or the Central Government, as the case may be] under sub-section (1) of section 167, the company, and every officer of the company who is in default, shall be punishable with fine which may extend to[fifty thousand rupees][and in the case of a continuing default, with a further fine which may extend to [two thousand five hundred rupees] for every day after the first during which such default continues].