Section 96 of CA 2013 : Section 96: Annual General Meeting

Explanation using Example

Imagine XYZ Pvt. Ltd., a company incorporated on January 15, 2023. According to Section 96 of the Companies Act, 2013, XYZ Pvt. Ltd. must hold its first annual general meeting (AGM) within nine months from the close of its first financial year. If the financial year ends on March 31, 2023, the company should hold its first AGM by December 31, 2023. However, if the company needs more time due to unforeseen circumstances, the Registrar may extend this period by up to three months.

Additionally, XYZ Pvt. Ltd. must ensure that subsequent AGMs are held within six months from the end of the financial year and not more than fifteen months apart from the previous AGM. The AGM should be scheduled during business hours and not on a National Holiday. It should be conducted at the registered office or within the same city, town, or village. If XYZ Pvt. Ltd. is an unlisted company and all members agree, the AGM could be held at any location in India.