Whether Registrar has power to grant extension under the second proviso to sub‑section (1) beyond calendar year even if no annual general meeting has been held during that year - Companies Law - No. 34/11/69‑CL-III,

Letter : No. 34/11/69 CL-III, dated 13 1 1972. Subject:- Whether Registrar has power to grant extension under the second proviso to sub section (1) beyond calendar year even if no annual general meeting has been held during that year The question whether the second proviso to sub section (1) of section 166 empowers the Registrar of Companies to grant extension not exceeding three months, though the company concerned may not be able to hold its annual general meeting in a particular calendar year, has been considered by the Company Law Board. The Board is of the view that the power of the Registrar conferred by the second proviso enabling him to grant extension of time to hold the annual general meeting is exercisable by the Registrar without restriction or qualification up to a limit of three months. He can, therefore, grant extension of time for special reasons up to the maximum limit of three months, even if such extension allows the company to hold its general meetings beyond the calendar year.