- (1.) Two petitions have been filed u/s 44 1 of the Companies Act, 1 956 praying for compounding of the offence u/s 96 of the Companies Act. The said petitions which have been routed through the office of the RoC along with their comments, pray for compounding the offence of not holding the AGM for the Financial years ending 3 1.03.2015 and 3 1.03.20.16 within the period required under the Statute.
(2.) As per the provision of Section 96(1) of the Companies Act, 2013: "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 and shall specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next."
(3.) As per the averments, the AGM for the Financial Year 2014-2015 was required to he held by 30.09.20 15. However, an extension of time was granted by the office of the ROC till 3 1.10.2015. The said AGM was convened on. 07.12.2015, giving rise to a delay for 37 days. Similarly for the Financial Year 2015-20 I 6, the AGM was delayed by 59 clays as it was convened on 28.11.2016.;