Notice of meeting

sec 210 of the companies act,1956 :-

every company should lay before every subsequent AGM, its annual accounts with in 6 months or extended period, if any, granted by the ROC from the closure of accounts.

Whether Consent of the Board to increase the X amount of Equity Shares ( subject to the Members approval in AGM ), being the unissued Equity Shares be made by Circular resolution?

Following is the sequence of incidence take place:

1. The Board of Directors prepares Accounts of the company. (Balance Sheet & P&L A/c) (Legally, it is the responsibility of Management/ Internal Auditor of the Company to prepare & maintain Accounts)
2. The same are approved and signed by Directors in the Board Meeting.
3. The Accounts are forwarded to Statutory Auditor for his Report on the same.
4. Statutory Auditor will comment on Accounts & will issues his report i.e. Auditors Report & makes signatures on Balance Sheet & P&L A/c.
5. Now Director’s Report can be prepared (Note: Director Report must contain answers to the Qualifications put by Auditor in his Report.) Once the Board approves draft of Director’s Report, they can go ahead to call for AGM.
6. Here comes the point to issue Notice of AGM.

So, one has to arrange respective Dates on each such document accordingly.

The only exception situation is: Company is unable to finalize Accounts, for whatsoever may be the reasons & due date of conducting AGM (generally, 30.09.20--) is about to come. Here AGM must be called even if No Accounts (BS, PL) are ready for the approval of members. In this case, Date of Calling of AGM may come before the Date of Signing of Balance Sheet/ Auditor’s Report.