Section 96 – Annual General Meeting (AGM)
Key Points:
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Every company (except a One Person Company) must hold an AGM each year.
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The first AGM must be held within 9 months from the end of the first financial year.
Compliance Steps:
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Send notice for the AGM to all shareholders at least 21 days before the meeting.
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Prepare an agenda and ensure resolutions are passed, including approval of financial statements, declaration of dividends, and appointment of auditors.
Example:
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ITC Ltd. conducts its AGM in compliance with the Companies Act, presenting detailed financial reports and facilitating discussions on strategic decisions with its shareholders.
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