Penalty for Compounding for not holding AGM

[Manisha Bajaj]

What is the penalty charged under compounding for not holding AGM within due date as accounts are not ready? Does anyone have a practical experience about the penalty?

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Thanks & Regards,

Manisha Bajaj & Associates

Company Secretaries

[Abnish Kumar & Associates]

Yes. I have. First we need to file a compounding application with ROC. Penalty amount depends upon no of delay on holding AGM. 

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Thanks and Regards

Abnish Kumar |ACS, LLB, B.Com(H)

Abnish Kumar & Associates

Practicing Company Secretaries

D-122, First Floor,  

Sector-7, Noida-201301

Phone No: +91 120 4315197

Mob: +91 8368885360, +91 8750604727

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" You have to grow from the inside out. None can teach you, non can make you spiritual. There is no other teacher but your own soul. You cannot believe in God until you believe in yourself. The world is the great gymnasium where we come to make ourselves strong."                                                                                                                                                                    -Swami Vivekananda

[Manisha Bajaj]

Ok, thanks for the reply..... Will it help if we hold AGM within due date and adjourn it? Will the officer take a linient view and will penalty amount get reduced? Or will it make no difference?

 

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[Abnish Kumar & Associates]

It may be reduced. But it all depends upon your convincing skills and liaising skills. 

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[Manisha Bajaj]

Ok.... Thank You

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[kumarbire...@gmail.com]

Can you send me application draft and other details at kumarbire...@gmail.com