Indicate steps to file an application for seeking extension for calling Annual General Meeting and mention the form in which such application needs to be filed with the Registrar of Companies.
CS Executive · Company Law · PYQS · December 2021
Indicate steps to file an application for seeking extension for calling Annual General Meeting and mention the form in which such application needs to be filed with the Registrar of Companies.
Answer & Explanation:
Section 96 of the Companies Act, 2013 provides that every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting within a period of six months, from the date of closing of the financial year. However, 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. The steps to file an application for seeking extension for convening Annual General Meeting (AGM) are given below: The company shall call for a meeting of Board of Director for which a notice must be sent at least 7 days before holding of Meeting of Board. Call a meeting of Board of Directors for considering the proposal of extension of date of AGM. Pass a resolution for extension of time limit for holding annual general meeting specifying the due reason for extension of AGM. File application in prescribed Form GNL-1 with ROC concerned. Detailed application should contain the following details: Reasons of extension Period for which extension is required (Note: It should not exceed three months) The certified copy of the Board resolution passed be attached to such application. Other document, if any, justifying the application be attached also. The ROC shall scrutinize the form and documents and then consider granting the extension not exceeding 3 months. The Company shall conduct the AGM before completion of the extended time.
Topics: Company Law
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