DUE DATE OF FIRST AGM?

[Saroja S]

DEAR FREINDS?

A COMPANY INCORPORATED ON 30.01.2014?

WHAT IS THE DUE DATE OF ITS 1ST AGM?

AS PER OLD COMPANIES ACT, COMPANY CAN COMBINE OPERATIONS FROM 30.01.2014 TO 31.03.2014 WITH 2014-15 FINANCIALS AND FILE SINGLE BALANCE SHEET FOR 30.01.2014 TO 31.03.2015? WHETHER SAME IS ALLOWED AS PER COMANIES ACT, 2013.

[Acs Mahendra Chauhan]

O

Due date of 1st AGM IN your case 30 Dec 2015

According to Section 96(1) of the Companies Act, 2013, a meeting known as an annual general meeting is
required to be held by every company other than ‘one person company’ every year. The company shall specify the
meeting as such in the notices calling Annual General Meeting.
In case of the first annual general meeting, it shall be held within a period of nine months from the date of closing
of the first financial year of the company. If a company holds its first annual general meeting as aforesaid, it shall
not be necessary for the company to hold any annual general meeting in the year of its incorporation.
This means, for a company incorporated on 1st day of January 2015, the first financial year shall be closed on 31st
day of March 2016 and Annual General Meeting should be convened on or before 31st day of December 2016.
However for a company incorporated on 31st day of December 2014, the first financial year shall be closed on 31st
day of March 2015 and Annual General Meeting should be convened on or before 31st day of December 2015.