AGM EXTENSION

[varun kalyanittaya]

DEAR FRIENDS

CAN ANY ONE GIVE ME A VALID REASON FOR APPLYING FOR EXTENSION OF AGM?


THANKS IN ADVANCE
VARUN KALYANITTAYA

[R V SECKAR]

Hello,

Draft a letter/ application on the letter head of the company giving the back ground about date of incorporation etc and explain the reasons as to why the company canot convene the AGM on or before 30th September. Please note that as per the Ministry of Company Affairs Circulars:-

(a) Non Completion of Audits- both Statutory & C & AG audits are not valid reasons.
(b) Non availability of Chairman's for holding the Board meeting to obtain approval for accounts & convening the AGM are
also not valid reason.

1. For instance , IFCI Financial Services Ltd got the extension as its amalgamation process was at its final stage.

R.V.Seckar

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[Astarag]

Can the Loss of data in computer due to virus be considered as a reason for such application ?

--
with regards,

Cs. P.A. Patnaik
Mob 99480 57660

[gaurav]

Yes, it can be a valid reason for seeking extension for holding AGM. Below is a recent case where similar situation had arised  and the ROC granted extension.

Sera Sera Productions Case:

K Sera Sera Productions Ltd has informed BSE that the date of the Annual General Meeting was fixed as September 30, 2010. But due to some unavoidable reasons Company’s server got crashed and the backup of tally got corrupted. The Board of directors of the Company has decided to make an application to Registrar of Companies (ROC) Maharashtra, Mumbai for extension of holding Annual General Meeting. Accordingly the Company has made an application to the vide SRN A92421601 on August 26, 2010 requesting for extension of time for the purpose of holding the Annual General Meeting. The said application was approved by The Registrar of Companies (ROC) Maharashtra, Mumbai on August 30, 2010. The Company has been granted an extension for holding its Annual General Meeting upto December 31, 2010.

Source: BSE  

 

 

Regards,

 

CS Gaurav Shenoy

Assistant Company Secretary

Bangalore

 

---

[esha sharma]

No Loss of data in computer due to virus can't be considered as a reason for such application . It is specifically mentioned in Ramayya.

Thanx & Regards

ACS Esha Sharma

[Astarag]

if not granted then i think this will be not logical

 

how many times AGM can be adjourned for adoption of accounts then .

in Listed companies it ll be more difficult

[Suresh Kumar Vaishraj]

- We have taken extesion in many a cases on the ground of computer crash and time required for data recovery And the ROC , A.P. had given extensions in many cases.

 

- It will depend on how u present ur application and elaborate your reasoning.

 

- Of course close persual at the ROC is must. Hope u understood.

 

Thanks and Regards,

Suresh Kumar V
Company Secretary
91-9849991201

[R V SECKAR]

Hello,

We can have only Ramayia's observation as guidance and it cannot be treated rule or law.

R.V.Seckar

[Astarag]

May be it not relevant to the context

 

But I want to place my views

'Hope u understood" is understood but why the secrecy , why the shyness to reveal the ugly face

of the system

If the MCA its self putting the warning on ROC office walls regarding bribe

If vigilance department being in the same bulding it self can not see this, why we should feel sory to say the truth

why should we feel ashamed

Are we observing the Three monkey of Gandhi

 

If its now practically part of the system, then we all should accept it in mind,heart and soul

[gaurav]

I agree to Mr. Seckar,  whats given in Ramaya cannot be considered as final. As I had quoted the case of Sera productions in the earlier  mail, where a similar case has been dealt and the ROC has granted extention. So we cannot be wholly dependent on Ramaya’s views.

 

CS Gaurav Shenoy

Assistant Company Secretary

Bangalore

 

From: csmy...@googlegroups.com [mailto:csmy...@googlegroups.com] On Behalf Of R V SECKAR
Sent: Tuesday, September 21, 2010 5:41 PM
To: csmy...@googlegroups.com
Subject: Re: [CSMysore] AGM EXTENSION

 

Hello,

[R V SECKAR]

Hello,

Draft a letter/ application on the letter head of the company giving the back ground about date of incorporation etc and explain the reasons as to why the company canot convene the AGM on or before 30th September. Please note that as per the Ministry of Company Affairs Circulars:-

(a) Non Completion of Audits- both Statutory & C & AG audits are not valid reasons.
(b) Non availability of Chairman's for holding the Board meeting to obtain approval for accounts & convening the AGM are also not valid reason.

1. For instance , IFCI Financial Services Ltd got the extension as its amalgamation process was at its final stage.

2.Preparation of accounts delayed as accounts details were corrupted due to compute virus as held in

Sera Sera Productions Case:

K Sera Sera Productions Ltd has informed BSE that the date of the Annual General Meeting was fixed as September 30, 2010. But due to some unavoidable reasons Company’s server got crashed and the backup of tally got corrupted. The Board of directors of the Company has decided to make an application to Registrar of Companies (ROC) Maharashtra, Mumbai for extension of holding Annual General Meeting. Accordingly the Company has made an application to the vide SRN A92421601 on August 26, 2010 requesting for extension of time for the purpose of holding the Annual General Meeting. The said application was approved by The Registrar of Companies (ROC) Maharashtra, Mumbai on August 30, 2010. The Company has been granted an extension for holding its Annual General Meeting upto December 31, 2010.

Source: BSE  

R.V.SECKAR

Please do visit my blog : http://rvsekar.blogspot.com/

On 21 September 2010 09:12, varun kalyanittaya <varu1...@gmail.com> wrote: