Due Date of AGM

Advocate & Consultant

 

Dear Members,
 
Sub section 3(b) Section 210 of the Companies Act,
 
The annual accounts of the company (Balance sheet & P&L) should be laid before the shareholders at Annual Genera Meeting within six months from date of end of the financial year.
 
Section 166 of the Companies Act,
 
Duration between the two Annual General Meeting not more than fifteen months.
 
My doubt about DUE DATE OF AGM for following instance case.
 
Instance, AGM of the Company held on 31/05/2008 for the financial year ended 31st March 08.
 
 As per section 166, subsequent AGM should be held within 30 Aug 2009 for the financial year ending 31 March 2009.
 
Where as section 210 provide, the AGM should be held with in six month from the end of the financial year, given case, AGM would be held with in 30th September2009.
 
Suppose the company would be held AGM under section 210, in this case company has violated the section 166.
 
 
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Corporate Laws and Indirect Taxation Laws Practitioner.

Yes, Its a violation

 
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Company Secretary

Yes, provisions of both Sections 166 and 210 have to be complied with simultaneously.  Hence the last date for holding AGM is as prescribed in Sec.166 or in 210, whichever is earlier.  Otherwise you will have to apply to ROC for extension of time.

 

 
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