Holding of AGM of a Co.

Debashis Mandal (Querist) 15 January 2011 This query is : Resolved
Respected Experts,
If a Co. is not hold any AGM within time & also not applied to ROC for extension of time limit then what will be the impact -
in this case First AGM of the co was held on 30.08.2009 & then till to day i.e. 15.01.2011 no AGM has beeb held then what will be the impact of it on the company or its Directors. Is there any penal provision for that?
Thanks
Debashis Mandal

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Amit Minocha (Expert) 15 January 2011
AGM in accordance with section 166 can be adjourned. But as per DCA Clarification the adjourned annual general meeting must itself be held within the statutory period (including the period of extension thereof, if any allowed) as provided in section 166(1).

DEFENSE ADVOCATE.-firmaction@g (Expert) 16 January 2011
Well ROC is flooded with work so it depends on what type of co.

If a Pvt Ltd co with limited activities no body will bother.If a big co , you will get instant notice and further action from ROC.