Annual General Meeting (AGM)

What it means

An Annual General Meeting (AGM) is the yearly meeting of a company’s shareholders required by the Companies Act, 2013. The board reports to the owners of the company. Shareholders approve the audited accounts, declare dividends, reappoint directors who retire by rotation, and appoint or ratify the auditor. Every company except a one person company (OPC) must hold one.

How it works

• First AGM: within 9 months from the end of the company’s first financial year

• Later AGMs: within 6 months from the end of the financial year, so by 30 September for a March year end. There can be no more than 15 months between two AGMs.

• Extension: the Registrar of Companies (ROC) can allow up to 3 more months for a special reason, but not for the first AGM

• Notice: at least 21 clear days in writing or by email. A shorter notice is allowed if at least 95% of the members entitled to vote agree.

• Ordinary business: adopting financial statements and reports, declaring dividend, reappointing retiring directors, appointing the auditor. Anything else is special business and needs an explanatory statement.

• Minutes must be prepared and signed within 30 days of the meeting.

The AGM date matters because two key annual MCA filings run from it: AOC-4 (financial statements) is due within 30 days, and MGT-7 or MGT-7A (annual return) within 60 days.

Example

Shree Textiles Private Limited closes its books on 31 March 2026.

• Latest AGM date: 30 September 2026, which is 6 months after year end

• Notice sent on 5 September 2026 for an AGM on 29 September 2026. That leaves more than 21 clear days, excluding the day of sending and the day of the meeting.

• The board proposes a dividend of ₹2 per share on 50,000 shares, so ₹1,00,000 in total, which shareholders approve

• AOC-4 due within 30 days: by 29 October 2026

• MGT-7A due within 60 days: by 28 November 2026

Key points to remember

• The accounts must be audited before the AGM, so plan the audit well before September.

• Missing the AGM deadline can lead to penalties on the company and on every officer in default.

• Late AGMs push AOC-4 and MGT-7 late as well, and those attract additional fees of ₹100 a day per form.

• Meetings may be held through video conferencing within the conditions set by MCA. Check the current circulars before relying on this.

• OPCs are exempt from holding an AGM, but they still file their accounts and annual return.