Annual General Meeting (AGM ) Extension after 30.11.2021 for the F.Y 2020-21

Last Updated On: Nov. 25, 2021, 10:38 p.m.
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AGM EXTENSION AFTER 30.11.2021 FOR THE FINANCIAL YEAR 2020-21

WHAT IS AGM?

An AGM is the only meeting in which Shareholders can interact with the Management or Board of Directors of their company. A mandatory yearly gathering  of a company’s interested Stakeholders.

 

Due Date for  Annual General Meeting:

1) First AGM  –  within a period of 9 Months from the date of closing of the First Financial Year of the company.

2) Subsequent AGM – within a period of 6 Months from the date of the closing of the Financial Year.

Moreover Not more than 15 months shall lapse between the date of one annual general meeting of a company and that of the next.

 

Time and Place for  Annual General Meeting:

Every annual general meeting shall be called during business hours on any day that is not a National Holiday.

The business hours are prescribed to mean the time period between 9 a.m. and 6 p.m. It is to be noted that the meeting needs to be called during business hours. It may extend and conclude beyond business hours.

The venue of the meeting shall be either the registered office of the company or some other place within the city,
town or village in which the registered office of the company is situated.
Central Government has been empowered to exempt any company from the provisions of this sub-section subject to such conditions as it may be impose.

 

 

NOTIFICATION ISSUED FOR EXTENSION OF AGM AFTER 30.11.2021

As per the Provisions of Section 96(1) of Companies Act, 2013, the Registrar may, for any special reason, extend the time within which any annual general meeting, other than the first annual general meeting, shall be held, by a period not exceeding 3 (three) months.

Even after getting Extension in Conducting AGM for the period of 2(two) months till 30th, November 2021 by the circular dated 23.09.2021, we can get extension of maximum 1 month from the Registrar of Companies. Reason being as per the provisions of the Act, we can get maximum extension of 3 months (except for first AGM) from the last date till whic

The AGM is supposed to be held. So, even after getting the extension from MCA, one can file the form GNL-1 for getting extension of maximum 1(one) month i.e. till 31st December, 2021. However, before making an application one should make sure that the maximum gap between the 2 AGM should not be more than 15 months.

 

 

Kindly note: If you are going to submit the application for extension of AGM, it should be done before 30.11.2021

 

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