New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The first Annual General Meeting of the company shall

    be held ______________
    A Within three months from the date of closing of the first financial year of the company Correct Answer Incorrect Answer
    B Within six months from the date of closing of the first financial year of the company Correct Answer Incorrect Answer
    C Within nine months from the date of closing of the first financial year of the company Correct Answer Incorrect Answer
    D Within fifteen months from the date of closing of the first financial year of the company Correct Answer Incorrect Answer

    Solution

    Explanation: Section 96 Annual general meeting- (1) 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: Provided that in case of the first annual general meeting, it shall be held within a period of nine months from the date of closing of the first financial year  of the company and in any other case, within a period of six months, from the date of closing of the financial year : 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 meeting in the year of its incorporation: Provided also that the  Registrar may, for any special reason, extend the time within which any annual general meeting, other than the first annual general meeting, shall be held, by a period not exceeding three months.

    Practice Next