An Annual General Meeting (AGM) is a yearly meeting held by every company (except One Person Company) to present its financial statements, appoint or reappoint directors and auditors, and provide transparency to shareholders. It ensures shareholders are informed and involved in the company’s progress and governance.

Who is Liable to Hold AGM?
➡️ All companies (except One Person Company) incorporated under the Companies Act, 2013.
➡️Private companies (excluding OPCs) are also required to hold AGM if they are not exempted under special provisions.

Where Should AGM Be Conducted?
🔷 For listed companies or those having more than 200 members: AGM must be held physically at the registered office or any other location within the same city/town/village.
🔷For others: AGM can be held virtually through video conferencing (as per MCA guidelines).

When Can the AGM Be Called?
🔹 AGM must be held during business hours, i.e., between 9 AM and 6 PM.
🔹Not on a public holiday or national holiday.

What if AGM is Not Conducted? – Penalties
If a company fails to conduct an AGM as required under Section 96:
The company and every officer in default is liable to:
❗ A fine of up to ₹1,00,000, and
❗₹5,000 per day of continuing default.

When Should AGM Be Held? – Time Limits Explained