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Showing posts with the label Section 96(1)

Due Date of an Annual General Meeting

Provisions regarding due date of AGM as per Section 96 of the Company Act, 2013: Section 96(1): Every private limited or limited company require conducting AGM every year.  One person companies are exempted from holding an AGM.  Meeting must be held within 6 months from the end of financial year also there should not be more than 15 months gap between two AGM of a company. In case of first AGM - It must be held within 9 months from the end of its first FY.  All company must hold an annual general meeting in every calendar year. However, company may grant extension for holding AGM, maximum for 3 months. The Special reasons for the extension could be: 1.                  Non-readiness of the financial statements due to natural calamity, due to loss of financial data, non-presence of members due to valid grounds. 2.          ...