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Related to AGM of a Company

Ashish Kr Agarwal (Manager-Finance & Accounts) (43 Points)

01 May 2010

If the AGM of the Company was held on 25.09.2009, then when will be the next AGM Due, whether it would on 25.09.2010 or 30.09.2010 as the law says the AGM should be held within 12 months of the previous AGM or 6 months after the Balance Sheet Date ?

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22 Replies

Suman Khurana (ACS) (209 Points)
Replied 01 May 2010

Act says the gap between two AGMs must not exceed 15 months or 6 months from date of BS, whichever is earlier.

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CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 01 May 2010

The Due date would be 30/09/2010

MANISH AGGARWAL (Cost accountant) (31 Points)
Replied 01 May 2010

Act says the gap between two AGM not more than 15 months or six month from yhe date of balance sheet whichever is earlier

Ravi Rawat (Chartered Accountant) (116 Points)
Replied 01 May 2010

As per companies Act the Gap b/w two AGMs should not be more than 15 months but AGM to be held within 6 months of closing of FY. So the due dat e of AGM would be 30.09.2010 in your case.

vikash rathi (Chartered Accountant) (787 Points)
Replied 01 May 2010

where it is written that...period between two agm must be 15 month...and with in 6 month from year ending so due date can be 30.09.2010

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 03 May 2010

Originally posted by : vikash rathi
	where it is written that...period between two agm must be 15 month...and with in 6 month from year ending so due date can be 30.09.2010

Dear Vikas this question is to be decided under section 166 read with section 210.

Check section 166 for period between two agm must be 15 month...and

Check section 210 for 6 month limit.

Karan Ramchandani (Company Secretary) (72 Points)
Replied 03 May 2010

Section 166(1) of the Companies act 1956 states that "not more then fifteen months shall elapse between the date of one AGM of the Company and that of the next".

Section 210(3) states that, " profit & loss account of the Company shall relate to the period beginning with the day immediately after the period for which the account was last submitted and ending with a day which shall not precede the day of meeting by more then six months."

Collectively, the date of AGM should be the within 6 months from the close of financial year or within 15 months from the last AGM, which ever is earliar.

Regards

Karan Ramchandani

Hariharakrishnan (Officer) (46 Points)
Replied 04 May 2010

Could somebody help me in the following:

What would be the financial year of a company incorporated on 9th February, 2009 and when it has to hold the first AGM and also what would be the due date for holding AGM?

RITU BAJAJ (COMPANY SECRETARY) (158 Points)
Replied 04 May 2010

The first Financial year of the Company will be from 09th February, 2009 to 31st March, 2010. The first AGM is required to be held within 18 months from the date of incorporation as per Section 166(1) of the Companies Act, 1956. So the first AGM should be held on or before 8th August, 2010, which is also its due date.

Ashok Monga (Adviser) (161 Points)
Replied 04 May 2010

Gentlemen

I agree with Karan Ramchandani. If the AGM of the Company was held on 25.09.2009. agreed that the due date for AGM will be 30/9/2010. but nothing stops the company from holding the AGM earlier than the due date.