I've just become aware that a Pte. Ltd. can dispense with holding an AGM by passing a resolution under Section 175A of the Companies Act. At first, I thought that would be great for reducing the amount we pay to the auditor/accounting company. On thinking further, what we pay our accounting company for is preparation/submission of the Annual Return, an annual report, and filing taxes, and I'm guessing that doing away with the AGM doesn't mean doing away with these things. So, in the end, the only benefit is that you don't have to hold/record that an AGM was held.
Am I on the right track, or can you actually save some overhead by doing away with the AGM?