Question

State the following Statement is True or False:

The power of granting extension of time for holding the Annual General Meeting is vested in the Registrar of Companies.

• A. True
• B. False

Answer 1

The correct option is A True

This Statement is True because of the following reasons:

(i) As per section 166 of the Companies Act, 1956, the company is required to hold its Annual. General Meeting for the financial year ending on 31st march on or before 30th September.

(ii) If for any reason, the company is unable to conduct the meeting, the, company secretary has to write to the Registrar of Companies requesting for extension in time for holding the Annual General Meeting.

(iii) The company secretary while corresponding to the Registrar of companies has to assure the Registrar of Companies that all necessary formalities would be completed and the meeting would be conducted in the extended time.

(iv) The company secretary gives an undertaking on behalf of the company, of course, to pay the penalty for the delay.

Provisions relating to this are now dealt by the Companies Act ,2013.