Question: what are the consequences of not holding annual general meeting?
Answer: (2) Punishment for not holding AGM [Section 99]: if any default is made in complying or holding AGM of the company, the company and every officer of the company who is in default shall be punishable with fine which may extend to ` 1 lakh and in case of continuing default, with a further fine which may extend to ` 5,000 ...