{"id":11948,"count":1,"description":"

A company that is required to hold an Annual General Meeting but fails to do so within the statutory period may face consequences under the Companies Act, 2013.<\/p>\r\nSection 96 generally requires every company other than an OPC to hold an AGM each year. Section 99 deals with punishment for default in complying with Sections 96 to 98.\r\n\r\nThe company should not ignore the missed deadline or assume that completing its annual ROC forms later will automatically resolve the failure.\r\n

What is the penalty for not holding an AGM?<\/h2>\r\nSection 99 provides for a penalty that may extend to \u20b91 lakh for the company and \u20b95,000 for every officer in default.\r\n\r\nThe applicable facts, legal position and any relevant amendments should be checked before determining the exposure in a particular case.\r\n\r\nThis penalty is separate from the consequences of failing to file financial statements or annual returns.\r\n

Can a company seek an extension?<\/h2>\r\nThe Registrar of Companies may extend the time for holding an AGM other than the first AGM by up to three months for special reasons under Section 96.\r\n\r\nThis is not an automatic extension. Companies should apply through the appropriate process and should not assume that a request itself changes the statutory deadline.\r\n\r\nThe first AGM is not covered by this extension power under Section 96.\r\n

What if the AGM has already been missed?<\/h2>\r\nSection 97 provides a mechanism through which a member may apply to the National Company Law Tribunal (NCLT) when a company defaults in holding its AGM.\r\n\r\nThe Tribunal may call or direct the calling of an AGM and give related directions in accordance with the provision.\r\n\r\nA company facing a missed AGM deadline should obtain professional advice to assess the circumstances, identify the appropriate remedial steps and separately review outstanding ROC filings.\r\n

Does filing AOC-4 and MGT-7 cure the missed AGM?<\/h2>\r\nNo. Filing annual forms and holding an AGM are separate statutory obligations.\r\n\r\nThe company should not treat submission of AOC-4 or MGT-7 as a substitute for the meeting.\r\n\r\nConclusion:<\/strong> A missed AGM can create a distinct compliance issue. Directors should address it promptly rather than treating annual form filing as a complete solution.","link":"https:\/\/filingpoint.com\/consultants\/india\/what-happens-if-a-company-does-not-hold-its-agm\/","name":"What Happens If a Company Does Not Hold Its AGM?","slug":"what-happens-if-a-company-does-not-hold-its-agm","taxonomy":"post_tag","meta":[],"yoast_head":"\nWhat Happens If a Company Does Not Hold Its AGM? - Best Company Registration | Tax Filing Services in Chennai, India<\/title>\n<meta name=\"description\" content=\"Call Filing Point 72999-72500. The Best Company Registration, GST, ROC Filing Consultants. 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