Law Reference: Sec. 96 of the CA’2013 provides that every Company other than OPC (One Person Company) shall in each year hold an AGM of its shareholders.
Frequency AGM: Not more than 15 months shall elapse between the date of One AGM of the company and that of the next. Provided that
- First AGM of the Company shall be held within nine months of closing of financial year and subsequent AGMs shall be held within 6 months of closing of financial year.
- Company may move an application to Registrar for extending the time period of AGM other than first AGM of the Company
- Registrar may, for any special reason, extend the time within which any AGM, shall be held, by a period not exceeding three months.
Procedure to seek extension of time for holding AGM:
Convene a Board Meeting in compliance of SS-1:
- Pass a Board resolution seeking for the extension of time limit for holding Annual General Meeting.
- A detailed application shall be made to the Registrar of Companies in e-Form GNL-1, detailing the reason for the extension and the period for which extension is required.
Note: Application must be made before the due date of the Annual General Meeting.
Post the examination of stated facts in the application, Registrar may grant extension for the approached period or the time period he deems fit as reasonable.