Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Date of AGM

Madroamer (-) (168 Points)

29 October 2009

If the balance sheet is signed on 30.09.2009, when the AGM can be conducted without violating provisions of sec 166 / 210. last year agm was conducted on 30.09.2008 and date of signing of balance sheet for the year was 1.08.08

Reply
Follow
Share

11 Replies

Amit Ingale (Student CA Final) (1454 Points)
Replied 29 October 2009

Post all such queries in expert section only. so that you get an answer from experts only.

Upgrade to CAclubindia Pro. Subscribe Now!

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 29 October 2009

In your case last year everything was fine. But this year you can not escape from section 210.

In fact you have already violated section 210.

Madroamer (-) (168 Points)
Replied 29 October 2009

ya, it happened as expected. ok wat is the remedy for this. have to file ROC now. how can i specify date of AGM in it and also for DUE date of agm.

// From next queries if any ll post in experts section - thx for advice Dear Amit

Jyoti Aggarwal (COMPANY SECRETARY) (336 Points)
Replied 30 October 2009

yOU CAN DO ONE THING.

GIVE SHORTER NOTICE OF aGM TO ALL THE SHAREHOLDERS IN FORM 22a IN MORNING.

HOLD THE agm IN EVE WITH THE APPROVAL OF SHAREHOLDERS.

Tejpal Sheth (Practising company secretary-visiting fa) (1933 Points)
Replied 30 October 2009

Miss Joyti,

Notice of shorter period is valid and allowed. But provisions says that you are required to get consent of all members. So only giving notice in form no. 22A would not be enought.

Violation of Sec 210 is already taken place. What you can do is only to obtain extenstion of time limit from Roc BEFORE THE EXPRIRY OT TIME LIMITE..Seperate application to be made for Sec 210 and Sec 166..

Upgrade to CAclubindia Pro. Subscribe Now!

Jyoti Aggarwal (COMPANY SECRETARY) (336 Points)
Replied 30 October 2009

yes sir I also said that you have to tke approval of all the shareholders by giving form 22A.if u show dat board meeting is conducted in morning and agm in eve then u can do like this only if all the shareholders accepted it.

m i right?

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 30 October 2009

Extension from ROC is not possible at this stage. Application to ROC is required to be moved within the statutory time limit.

At this point of time when you have already defaulted 1 section ROC not allow your application.

ca tarun sharma (SERVICE) (277 Points)
Replied 30 October 2009

hello ankur sir i have a question regarding above query please clarify me

if the b/s is not audited or ready before agm due date then whether agm can not be held or agm is held & considering b/s in adjourned egm.if in the above query notice of agm would have been sent timely then whether agm can be held on 30.09.09

please clear provision sir

thanx in advance

Madroamer (-) (168 Points)
Replied 03 November 2009

Ok i wud like to know wat are the consequences of violation of sec 166 & sec 210.

Next wat can a company which doesnot finalise their accounts and doesnt conduct the AGm..can AGM be conducted without finalisation of Accounts.

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 03 November 2009

For penalty refer section 168 and section 210(5) and (6).

Upgrade to CAclubindia Pro. Subscribe Now!

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 03 November 2009

Originally posted by :Tarun Sharma
"	hello ankur sir i have a question regarding above query please clarify me if the b/s is not audited or ready before agm due date then whether agm can not be held or agm is held & considering b/s in adjourned egm.if in the above query notice of agm would have been sent timely then whether agm can be held on 30.09.09 please clear provision sir thanx in advance	"

Non finalization of accounts can not be considered as an excuse for not holding AGM on time. You may adjourn your AGM after completing other agenda items and without adopting balance sheet. Later on you may adopt the balance sheet in the Adjourned AGM.

But as decided in Bejoy kumar Karnani Vs. Assistant ROC (1985) the AGM including any adjournment thereof must be completed with in the statutory period specified under section 166 and 210.