The MCA issued a General Circular dated September 25, 2023, regarding the Extension of the timeline of the Annual General Meeting (AGM) and EGM through Video Conference (VC) or Other Audio Visual Means (OAVM) and passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with Rules made thereunder till September 30, 2024.
In continuation to this Ministry’s General Circular No. 20/2020 dated May 05, 2020, General Circular dated May 05, 2022, and General Circular dated December 28, 2022, and after due examination, it has been decided to allow companies whose AGMs are due in the Year 2023 or 2024, to conduct their AGMs through VC or OAVM on or before September 30, 2024 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular dated May 05, 2020.
However, it is hereby clarified that the General Circular shall not be construed as conferring any extension of statutory time for holding of AGMS by the companies under the Companies Act, 2013 (the Act) and the companies which have not adhered to the relevant statutory timelines shall be liable to legal action under the appropriate provisions of the Act.
Further, in continuation to this Ministry’s General Circular No. 14/2020 dated April 08, 2020, General Circular dated May 05, 2022. General Circular dated December 28, 2022, and after due examination, it has also been decided to allow companies to conduct their EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM) or transact items through the postal ballot in accordance with framework provided in the aforesaid Circulars up to September 30, 2024.
Link – https://www.mca.gov.in/content/mca/global/en/home.html
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