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    What should be the Date of AGM in case of OPC

    Posted By : CS Shiriti / Published on : 27-Mar-2020 04:05 PM / View : 947 / Comment : 2

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    There is no need to hold AGM for an OPC. So what should be the Date of AGM and the due date of AGM in AOC-4 and MGT-7 form?
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    • As per Section 139 (1) "every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting" and one of the provisos to the same Section says "also file a notice of such appointment with the Registrar within fifteen days of the meeting in which the auditor is appointed."

      Now, In the case of OPC, the date of AGM is considered to be the date on which the resolution is communicated by the shareholder to the Company as per the provisions of Section 122(3). Accordingly, In my view, you should file ADT-1 within 15 days from the date on which you have received communication from the Shareholder for the matters which were to pass in the AGM.

      30-09-2022 / 08:08:09 AM
      Reply
    • As per the Companies Act 2013, an OPC (One Person Company) is exempted from holding an Annual General Meeting (AGM). Therefore, there is no need to mention the date of AGM in the AOC-4 and MGT-7 forms for an OPC.

      However, OPCs are still required to file AOC-4 and MGT-7 forms with the Registrar of Companies (RoC) within the due dates specified under the Act, even though there is no need to hold an AGM.

      The due date for filing the AOC-4 form, which contains financial statements and other relevant information, is 30 days from the date of the AGM if the company is required to hold an AGM. Since there is no need to hold an AGM for an OPC, the due date for filing AOC-4 is 180 days from the end of the financial year.

      Similarly, the due date for filing the MGT-7 form, which contains information related to the Annual Return of the company, is 60 days from the date of the AGM if the company is required to hold an AGM. Since there is no need to hold an AGM for an OPC, the due date for filing MGT-7 is also 180 days from the end of the financial year.

      It is important for OPCs to ensure that they file their AOC-4 and MGT-7 forms within the specified due dates to avoid any penalties or fines for late filing.

      04-04-2023 / 08:42:58 AM
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