The Annual General Meeting (AGM) is a formal annual interaction between Shareholders and the Management of the Company. At the AGM, the Directors of the Company present an annual report containing information for shareholders about the company’s performance and strategy. In pursuant to the third proviso of Section 96(1) of the Companies Act, 2013, every Company other than a One Person Company (OPC) shall in each year hold in addition to any other meetings (Board Meeting), a general meeting as it’s Annual General Meeting (AGM) within a period of six (6) months, from the date of closing of the financial year.
For this year it will be 30/09/2021 (Due Date). If a company fails to hold an AGM within the due date (30/09/2021) then such Company is liable for penalties under Section 99 of the Companies Act, 2013 i.e. Complying with any directions of the Tribunal, the company and every officer of the company who is in default shall be punishable with a fine which may extend to one lakh rupees and in the case of continuing default, with a further fine which may extend to five thousand rupees for every day during which such default continues. 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 three months.