Section 121 of the Companies Act, 2013: Report on annual general meeting

The Companies Act, 2013

Chapter-VII Management and Administration

Section 121: Report on annual general meeting.

*121. (1) Every listed public company shall prepare in the prescribed manner a report on each annual general meeting including the confirmation to the effect that the meeting was convened, held and conducted as per the provisions of this Act and the rules made thereunder.

(2) The company shall file with the Registrar a copy of the report referred to in subsection (1) within thirty days of the conclusion of the annual general meeting with such fees as may be prescribed, or with such additional fees as may be prescribed, 1[**].

2[(3) If the company fails to file the report under sub-section (2) before the expiry of the period specified therein, such company shall be liable to a penalty of one lakh rupees and in case of continuing failure, with a further penalty of five hundred rupees for each day after the first during which such failure continues, subject to a maximum of five lakh rupees and every officer of the company who is in default shall be liable to a penalty which shall not be less than twenty-five thousand rupees and in case of continuing failure, with a further penalty of five hundred rupees for each day after the first during which such failure continues, subject to a maximum of one lakh rupees.]


Reference

*Effective from 01.04.2014.

1. Omitted by the Companies (Amendment) Act, 2017, w.e.f. 07.05.2018[S.O. 1833(E) dated 07.05.2018], the words “within the time as specified, under section 403“.

2. Substituted by the Companies (Amendment) Act, 2019, w.e.f. 02.11.2018, for the sub-section:

“(3) If the company fails to file the report under sub-section (2) before the expiry of the period specified *[therein], the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees.”.

*Substituted by the Companies (Amendment) Act, 2017, w.e.f. 07.05.2018[S.O. 1833(E) dated 07.05.2018], for the words “under section 403 with additional fee“.

 


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