ACRA eservices unavailable on 13 Nov Jump to: Select Subheading. The exemption to hold an AGM is subject to the following safeguards: A member who wishes to request that an AGM be held must notify the company no later than 14 days before the end of the sixth month after the financial year end Directors must hold an AGM within 6 months after the financial year end if notified by any member of the company to do so.
Directors must, within 14 days after the date of request, hold a general meeting to lay the financial statements. Did you find this page useful? Accounting and Corporate Regulatory Authority. How-to Guides. Enforcement Notices.
Corporate Service Providers. Register now Login. Close Notice of updates! Since the last time you logged in our privacy statement has been updated. We want to ensure that you are kept up to date with any changes and as such would ask that you take a moment to review the changes. You will not continue to receive KPMG subscriptions until you accept the changes.
Close Hi! Our privacy policy has been updated since the last time you logged in. We want to make sure you're kept up to date. Please take a moment to review these changes. You will not receive KPMG subscription messages until you agree to the new policy. Ignore and log out. Share close. In the case of these companies it is possible in lieu of an AGM, for all members of the company that are entitled to attend and vote at an AGM to sign a written resolution confirming: they have received the financial statements of the company; all matters that would usually be resolved at the AGM are resolved; and confirming no change to the appointment of the statutory auditor if any.
What are the consequences of not holding an AGM? Can a company delay its Annual General Meeting? Can a company cancel its Annual General Meeting? What is the quorum for an Annual General Meeting? Do the attendees have to be present in the same room for there to be a quorum? The RoC will record the reasons for giving the extension.
However, no extension is available to hold the first annual general meeting. In case a company fails to hold an AGM within the stipulated time or extension obtained by it, the Tribunal may itself or on an application made by any director or member order an AGM to be conducted as per its directions. If the company further defaults in holding a meeting in accordance with the directions of the Tribunal, the company and every officer of the company who commit the default shall be punishable with a fine of up to Rs 1 lakh.
In case of continuing default, a fine of Rs 5, per day is levied for each day during which the default continues. The procedure is as given below:. Disclaimer: The materials provided herein are solely for information purposes. No attorney-client relationship is created when you access or use the site or the materials. The information presented on this site does not constitute legal or professional advice and should not be relied upon for such purposes or used as a substitute for legal advice from an attorney licensed in your state.
Quorum, Companies Act, Government Registrations Get various licenses easy and quick. Buy now. Get Expert Assistance Thank You for sharing your details. Our experts will get in touch with you shortly. You might be interested in Registration mistakes that startups make Section AB Which business structure is best for you?
Get an Expert. Was this article helpful? Have a query? ITR Resources. Mutual Fund Resources. Terms Privacy Legal. The notice must include the framework laid down by the circular. In the current circumstances, the notices can be sent via e-mails registered with the company or depository participants. Before sending out notices together with the financial statements, company must publish atleast once in a vernacular newspaper in the district in which the registered office of the company is situated and one english newspaper also preferably having electronic editions.
0コメント