Where a company may held its Board of directors meeting

Every Annual general meeting of the company must be held in each calendar year. Comment

Section 96 provides that every company, other than a one-person company is required to hold an annual general meeting every year. SS-2 provides that the board shall, every year, convene or authorize the convening of a meeting of its members called the Annual General Meeting to transact items of ordinary business specifically required to be transacted at an annual general meeting as well as a special business if any.

Following are the key provisions regarding the holding of an Annual General Meeting:

1. The annual general meeting should be held once each calendar year.
2. The first annual general meeting of the company should be held within 9 months from the closing of the first financial year. Hence it shall not be necessary for the company to hold an annual general meeting in the year of its incorporation.
3. Subsequent annual general meeting of the company should be held within 6 months from the date of closing of the relevant financial year.
4. The gap between two annual general meetings shall not exceed 15 months.

In case, a company can't hold an annual general meeting within the prescribed time, the Registrar may, for any special reason, extend the time within which any annual general meeting shall be held. Such extension of time can be granted by the Registrar for the holding of the annual general meeting.

The gap between two annual general meetings can never exceed 15 months.  Comment. 

According to section 96(1) of the companies Act, 2013 gap of not more than 15 months shall elapse between the date of one annual general meeting of the company and that of the next year's annual general meeting.

According to the third proviso to section 96(1), 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 of not exceeding three months.

The company may apply to the Registrar for an extension for holding AGM, justifying it as a special reason. The registrar may after considering it as a special reason, extend the time within which an AGM shall be held which shall be a period not exceeding three months.

Further, the gap between the two AGM, shall not elapse for a period of 15 months unless the registrar for a special reason has extended the time for holding the AGM. Such an extension can't be more than 3 months.

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