The Ministry of Corporate Affairs ( MCA ) has released a circular (General Circular No. 10/2022, dated 28.12.2022) with clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM).
In continuation to this Ministry’s General Circular No. 20/2020 dated 05.052020 and General Circular No. 02/2022 dated 05.05.2022 and after due examination, it has been decided to allow the companies whose AGMs are due in the Year 2023, to conduct their AGMs on or before 30th September, 2023 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated 05.05.2020, the circular stated.
It has also been clarified that this General Circular shall not be construed as conferring any extension of time for holding of AGMs by the companies under the Companies Act, 2013 (the Act) and that the companies which have not adhered to the relevant timelines shall be liable to legal action under the appropriate provisions of the Act.
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