What is Consequences of not holding an AGM?
Nexa Consultancy | Startup & Finance Glossary
Failure to hold the Annual General Meeting (AGM) within the prescribed time (within 6 months from the end of the financial year) is a violation of the Companies Act, 2013. The company and its officers can be subject to significant penalties.
Startup Example: A startup fails to hold its AGM by September 30th. The company could be fined up to ₹1 Lakh, and each defaulting officer could be fined up to ₹25,000.
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