The Ministry of Corporate Affairs (MCA) issued the clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio-Visual Means (OAVM).
“With reference to Ministry’s General Circular No. 20/2020 dated 05.05.2020 and General Circular No. 02/2021 13.01.2021, it has been decided to allow the companies whose AGMs are due in the Year 2021, to conduct their AGMs on or before 30th June 2022 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 said while addressing all the DGCOA, all Regional Directors, All Registrar of Companies, and all Stakeholders.
The government has clarified that this 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 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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