How much period the first annual general meeting should be held from the closing of the first financial year?

As directed by the Companies Act 2013, the Annual General Meeting (AGM) for any budding new company is required to be held within 9 months from the closing of the first Financial Year in case if it is the first AGM.

How do you arrange an annual general meeting?

Preparation for the Meeting

1. Prepare reports, for example from the chair, treasurer, auditor and CEO, for distribution at the meeting.
2. Click here for a sample agenda.
3. Understand the voting procedure for electing directors and committee members, whether at the meeting or before (if written, provide pens and paper).

How many times AGM in a year?

Holding of AGM: Annual general meeting should be held once every year. 2. First AGM of the company should be held within 9 months from the closing of the first financial year. Hence, it shall not be necessary for the company to hold any AGM in the year of its incorporation.

How is date of AGM calculated?

Therefore still the last date for holding 1st AGM of any company is 9 months from the closure of the first financial year. For Example: if the first financial year of any company is closed as on 31.03. 2020 then the last date to hold AGM is 31.12. 2020 it should not be taken as 31.03.

Which company does not hold annual general meeting?

All companies except one person company (OPC) should hold an AGM after the end of each financial year.

Who is not entitled to call the extraordinary general meeting?

If at any time the number of Directors required to form a Quorum are not within India, any Director or any two Members of the company may call an Extra- Ordinary General Meeting in the same manner, as nearly as possible, as that in which such a Meeting may be called by the Board [Regulation 43(ii) of Table F of …

What is discussed at an annual general meeting?

The Annual General Meeting (AGM) is held annually in order to present detailed information about the company’s performance and to deal with matters such as adopting the previous year’s income statement and balance sheet, setting of dividend and its payment, and appointing members of the Board of Directors and the …

What is discussed in Annual General Meeting?

An Annual General Meeting (AGM) is held to have an interaction between the management and the shareholders of the company. The Companies Act, 2013 makes it compulsory to hold an annual general meeting to discuss the yearly results, auditor’s appointment and so on.

What is the maximum gap between the two annual general meeting?

15 months
Annual General Meeting Every company, other than OPC is required to hold. Subsequent AGM should be held within 6 months from the closing of the financial year. 4. the gap between two AGM should not exceed 15 months.

What happens if AGM is not held?

Consequences and Penalty for Default in Holding an AGM 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.

What is the full form of AGM?

What Is an Annual General Meeting (AGM)? An annual general meeting (AGM) is a yearly gathering of a company’s interested shareholders. At an AGM, the directors of the company present an annual report containing information for shareholders about the company’s performance and strategy.

Who can call an extraordinary general meeting?

The members/shareholders of a company can call for an extraordinary general meeting. However, only certain members with a significant stake in the company are allowed to call for an EGM.

What’s the format of an annual general meeting?

Format of Notice of Annual General Meeting (AGM) of Company The notice of Annual General Meeting can have various items of business to be taken up for consideration / approval / ratification by the shareholders of a company.

When does a newly incorporated company have to hold its first annual general meeting?

All newly incorporated companies are required to convene its first Annual General Meeting within a period of 9 months from the date of closing of the first financial year of the company and in any other case, within a period of six months, from the date of closing of the financial year.

What should be the format for AGM minutes?

Annual General Meeting (AGM) Minutes : Format / Sample / Template. Hereunder is a format of the Minutes of Annual General meeting of a Company: The format can be used for both public and private companies. As per the requirement and businesses dealt in the AGM, the format can be modified.

How often should annual general meeting be held in India?

All companies registered in India other than a One Person Company is required to hold an annual general meeting each year in addition to other General Meeting. There should not be a gap of more than 15 months between one Annual General Meeting and the next and one meeting should be held in each of the calendar year.