Quick Summary
Annual General Meeting must be held every year to present financial statements, declare dividends, and appoint auditors.
Every company (except OPC) must hold an Annual General Meeting (AGM) every calendar year. The first AGM should be held within 9 months from the closing of the first financial year.
Key Agenda Items
- Adoption of audited financial statements
- Declaration of dividend (if any)
- Appointment/reappointment of auditors
- Appointment/reappointment of directors
- Review of director's report
- Any other business with notice
Due Dates
- First AGM: Within 9 months from closing of first financial year
- Subsequent AGMs: Within 6 months from closing of financial year
- Maximum gap: Not more than 15 months between two AGMs
Quorum Requirements
- Public Company: 5 members personally present
- Private Company: 2 members personally present
- Unless AOA specifies higher number
Key Points
- Mandatory for all companies except OPC
- Must be held every calendar year
- First AGM within 9 months of first FY closing
- Subsequent AGMs within 6 months of FY closing
- Gap between AGMs not more than 15 months
- Notice of 21 days required