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CS Executive · Company Law and Practice · General Meetings

Pragati Agro Producer Company Ltd, a Producer Company, held its annual general meeting on 10 September. Which statement correctly describes its filing obligation for the AGM proceedings under the special provisions in Section 378ZA?

A Producer Company must file the AGM proceedings, along with the Board's report, audited balance-sheet, profit and loss account and an annual return, with the Registrar within sixty days of the AGM date under Section 378ZA(10). The ninety-day figure relates only to holding the first AGM.

  1. AProceedings with the Board's report, audited accounts and annual return must be filed with the Registrar within sixty days of the AGMCorrect
  2. BOnly the minutes must be filed within thirty days of the AGM
  3. CProceedings must be filed within ninety days of incorporation
  4. DFiling is needed only if the Registrar calls for it

Explanation

Section 378ZA(10) requires the proceedings of every AGM, with the Board's report, audited balance-sheet and profit and loss account, to be filed with the Registrar within sixty days of the AGM date, with an annual return and fees. The ninety-day period applies to holding the first AGM, not to filing.

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