Dear Sir / Ma'am
Legal Provisions:
As per the first proviso of section 166(1) of the Companies Act, 1956, A company may holds its first Annual General Meeting within a period of not more than eighteen months from the date of its incorporation.
Now, As per the first proviso of section 96(1) of the Companies Act, 2013, in case of first annual general meeting, it shall be hold within a period of nine months from the date of closing of the first financial year of the company.
Further, as per section 2(41) of Companies Act, 2013, financial year in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of following year, in respect whereof financial statement of the company of body corporate is made up.
Case:
The ABC Private Limited Company was incorporated on 2nd February, 2013.
My Question:
Can ABC Private Limited Company hold its first annual general meeting at any date between 1st july, 2014 and 31st December, 2014 by invoking the provisions of The Companies Act, 2013?
It is important to mention here that as per the provisions of The Companies Act, 1956, the company should hold first annual general meeting on or before 1st July, 2014.
Thanks in advance.
Thanks and Regards
GS
