what is meaning of this line?
Provide further that if a company holds its first annual General meeting as aforesaid, it shall not be necessary for the company to hold any annual general Meeting in the year of its incorporation.
2 Replies
Dream CA Achieve CA
(20 Points)
Replied 25 October 2020
It means if a company hold its first AGM as per above provisions then it need not hold any other AGM in the year of its incorporation.
Chirag
(Professional)
(1979 Points)
Replied 30 October 2020
If first meeting held within 9 months of end of FY then no need to hold any agm on year of incorporation,first fy ends on upcoming 31/3 ,if co incorporated on 1/3/2020 then first fy as per act will ends on 31/3/2021 ,so by 31/12/2021 co can held it's AGM,and if company do so then it will not be looked as non compliance if no meeting held on calendar year 2020 ,it's only for first AGM thereafter Every AGM to be held within. 6 months or end of FY (by 30/9) and can be extended by roc with reason for 3 months but gap between two meetings should not exceed 15 months
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