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Section 96 of the Companies Act, 2013 states that every company, other than a One Person Company (OPC) should hold an Annual General Meeting every year and the notice for calling the meeting should specify as such
Following points to be observed:
*In such case, there is no need to hold AGM in the year of incorporation.
**In case of a Government Company, AGM to be held at the registered office of the company or some other place within the city, town or village in which the registered office of the company is situated or such other place as the Central Government may approve in this behalf.
Penalty:
Company and every officer of the Company who is in default liable to pay fine which may extend to Rs. 1,00,000 and Rs. 5000/- per day of continuous default
Note: Under Regulation 44(5) of LODR: The top 100 listed entities by market capitalization, determined as on March 31st of every financial year, shall hold their annual general meetings within a period of five months from the date of closing of the financial year and shall provide one-way live webcast of the proceedings of the annual general meetings
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