Section 121 Report on annual general meeting – Companies Act 2013

Amended and updated notes on section 121 of Companies Act 2013. Detail discussion on provisions and rules related to report on annual general meeting.

Amended and updated notes on section 121 of Companies Act 2013. Detail discussion on provisions and rules related to report on annual general meeting.

Chapter VII (Sections 88122) of the Companies Act, 2013 (CA 2013) deals with the provisions related to management and administration. Section 121 of CA 2013 provides for report on annual general meeting.

Recently, we have discussed in detail section 120 (Maintenance and inspection of documents in electronic form) of CA 2013. Today, we learn the provisions of section 121 of Companies Act 2013 read with the Companies (Management and Administration) Rules, 2014.

Section 121 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 902(E) issued dated 27.03.2014. This notification shall come into force from 1st April, 2014 i.e. the commencement date of section 121 is 1-04-2014.

Name of ActThe Companies Act 2013
Enacted byParliament of India
Administered byMinistry of Corporate Affairs (MCA)
Number of Chapters29
Number of Sections484 (470-43+57)
Number of Schedules7
You are reading:
Chapter No.VII
Chapter NameManagement and Administration
Section No.121
Section NameReport on annual general meeting
Monthly Updated EditionCompany Law PDF

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

Section 121 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.

(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.

(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.

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