Penalties Section 99 Companies Act — Default in Holding AGM
Section 99 Companies Act — Default in Holding AGM
Companies Act 2013 — 99
Company + every officer in default: up to ₹1,00,000, plus ₹5,000 per day for continuing default.
The Penalty
Up to ₹1,00,000 + ₹5,000/day continuing default
- Cap
- Statutory maximum on adjudication
- Calculation base
- Days after the s.96 AGM due date
- Period
- Continuing default until AGM held or Tribunal extension granted.
When does this apply?
Failure to hold AGM within the s.96 timeline (typically by 30 September of the following FY) without a Tribunal-granted extension.
Calculate this amount
This estimate applies only the rate and caps published in the authored rule for this page.
₹0
Worked examples
| Scenario | Calculation | Result |
|---|---|---|
| 60-day delay past 30 Sep — company + officer | Up to ₹1,00,000 + ₹5,000 × 60 = up to ₹4,00,000 exposure | ₹4,00,000 |
How it is levied
ROC adjudication u/s 454. Extension under s.96(1) proviso can be sought from ROC before the due date.
⚠ VERIFY
Confirm the current initial-fine and per-day amounts — Companies Amendment Acts have periodically revised these; the ₹5,000/day continuing figure comes from s.99 as it stands.