What if first AGM has not been held on time ? and when we can held first AGM if due date has expired for holding ?
What are the consequences?
First AGM shall be held within a period of 9 months from the closing of first financial year.
If company fails to hold First AGM no extension by authority is possible.
Consequences : On application of any member of the company, Tribunal may call or direct the calling of AGM of the company and give ancillary directions to the company.
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