section 96 of the companies act 2013

[Asked by Guest]

First annual general meeting

Section 96

First AGM

"provided further that if a company holds its first annual general meeting as aforesaid,it shall not be necessary for the company to hold any annual general in the year of its incorporation..!! "

can anyone of u please help me in understanding that last phrase????

How can they conduct any other meetings after the close of first financial year(with in nine months)but with in the year of incorporation...the year of incorporation is already over nah???and the first agm is conducted after the end of their initial financial year(i had considered April 1 to march 31)

AI Summary

First Annual General Meeting timing: hold the initial AGM within the prescribed post financial year period; no separate AGM required in incorporation year.
Section 96 requires the first Annual General Meeting to be held within the statutory period after the close of the first financial year, mandates shorter timing for subsequent AGMs, and limits the interval between AGMs. The proviso states that if the first AGM is held in accordance with that timing, the company need not hold an additional AGM in the year of incorporation; other general meetings remain permissible.