Dear friends,
Solicit your views on the matter mentioned below:-
A Private Ltd company whose financial year is January-December,in which the preceding AGM was convened on June 26, 2008. The AGM for the Company was due to be held on June 25, 2009, but the Annual accounts of the Company was not audited before June and the Auditors completed Audit of Annual accounts in August.
I understand from the explanatory notes in Ramaiya that delay in completion of audit of Annual accounts should not constitute a special reason and accordingly Registrar of Companies shall not give a Company extension of AGM on the basis of this reason.
The Auditors of the Company completed the Audit in August and signed the
Auditors reportand Annual accounts on current date(ie. August).
In this case what would be the recourse available to the Pvt Ltd Company, since it would involve non compliance of section 166 and 210 of Co's Act ?
Thanks in anticipation for your inputs.
Best regards,
Ramanathan
