Procedure for holding AGM PDF Print Email
1.   

Hold and Convene a Board Meeting after giving notice to all the directors [Section 286] to discuss besides others the following matters.

·          Approval of draft balance sheet and profit and loss account.

·          The declaration of dividend.

·          The appointment of directors in places of those retiring.

·          The Appointment of and the fixing of remuneration of the auditors.

·          To fix the date, time and place for convening the Annual General Meeting of shareholders.

·          Approval of the notice of the meeting.

·          Issue and despatch notices in writing at least 21 clear days before the date of the General Meeting  [Section 171(1)] [Agenda]

2.   

Inform the Stock Exchange with which shares of the company are listed about the date of this meeting prior to the board meeting. [Clause 19 of the Standard Listing Agreement]

3.   

Inform the said Stock Exchange within 15 minutes of the board Meeting, by letter or fax of all outcome of the meeting of the board.

4.   

The notice is to be given to all the members, to all the debenture holders, if any, to every person entitled to a share of the company in consequence of death or insolvency of a member, to every trustee of debenture holders and to the directors and auditors of your company.

5.   

Hold and convene the Annual General meeting and pass the resolutions as specified in the notice. 

6.   

Forward 3 copies of the notice and copy of the minutes of meeting to Stock Exchange with which the shares of the company are listed. [Clause 31 (c) and (d) of the Standard Listing Agreement]

7.   

Filing of Balance sheet of the Company in [E-Form No. 23 AC] with in 30 days from the date of Annual General Meeting along with the following attachment :- 

·          Copy of duly signed Balance Sheet with Schedule and Notes to Accounts.

·          Copy of Director’s Report

·          Copy of Notice of Annual General Meeting.

·          Statement of subsidiaries as per Section 212 of the Companies Account

·          Balance Sheet of Subsidiary Companies.

8.   

Filing of Profit and Loss Account of the Company in [E-form No. 23 ACA] within 30 days from the date of Annual General Meeting along with the following attachments:-

·          Copy of profit and loss account and other documents.

·          Statement of subsidiaries as per section 212.

9.   

Make the payment of requisite fees prescribed by the Companies [Schedule X of Companies Act, 1956].

10.   

Fees can be paid through Credit Card / by cash / by cheque in favour of “MCA Collection Account ICICI Bank” at the prescribed rates. (Fee Calculator)

11.   

Filing of Annual Return of the Company in [E-Form No. 20B] within 60 days of the Annual General Meeting along with the following attachment :  

·          Duly signed annual return prepared and authenticated as per section 159 read with schedule V of the Companies Act, 1956.

·          In case the number of share holders / debenture holders exceed 100, attach details of all the shares holders / debenture holders in CD separately.

·          If any extension is granted for the financial year or AGM then approval letter for extension of financial year or AGM.

12.   

Make the payment of requisite fees prescribed by the Companies [Schedule X of Companies Act, 1956].

13.   

Fees can be paid through Credit Card / by cash / by cheque in favour of “MCA Collection Account ICICI Bank” at the prescribed rates. (Fee Calculator)

NOTE 

Definition 

Every Company shall, in each year hold (in addition to any other meetings) a general meeting as its Annual General Meeting.  

Period of Holding the Annual General Meeting 

A Company may hold its Annual General Meeting within a period of 18 months from the date of its incorporation. If such AGM is held within that period, it shall not be necessary for the company to hold any AGM in the year of its incorporation or the following year.  

For Example: if a company is incorporated in December, 2008, it may hold its First AGM in April, 2010 and that meeting will be deemed to be the AGM for 2008, 2009 and 2010. 

It must be noted that the time for holding the AGM cannot be extended by any authority under any circumstances. 

A Company is required to hold an AGM in every calendar year.  

The Time lag between two successive AGM shall not exceed 15 months which may further be extended by the Registrar by 3 months. 

As per Section 210 of the Companies Act, 1956, the Company must lay before the Annual General Meeting, the profit and loss account within 9 months of the close of its first financial year in case of its First Annual General Meeting and within 6 months of the close of its relevant financial year in case of subsequent Annual General Meeting. 

As per the interpretation the first annual general meeting of the company must be held with in 18 month from the date of incorporation or within 9 months from the close of its first financial year, whichever is earlier. 

Day, Time and Place for Holding of Annual General Meeting 

1.                  Every AGM shall be called on a day, which is not a public holiday.

2.                  Every AGM shall be called at a time during the business hours.

3.                  Every AGM shall be held either at the registered office of the Company or at some other place within the city, town or village in which the registered office of the company is situated.