Legal and Corporate Secretarial Updates

Extension of time for holding of Annual General Meeting (AGM) and Extraordinary General Meetings (EGMs)

Extension of time for holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM) :-

On account of ongoing Pandemic, Ministry of Corporate Affairs (“MCA”) had earlier issued a General Circular No. 20/2020 dated 05^th May, 2020 and further issued a General Circular No. 02/2021 dated 13^th January, 2021 allowing extension of time for holding of AGM through VC or OAVM till 31^st December, 2021.

Now, MCA vide General Circular No. 19/2021 dated 08^th December, 2021 has further allowed the Companies whose AGMs are due in the year 2021, to conduct their AGM’s through VC or OAVM on or before 30^th June, 2022 in accordance with the requirements applicable for conducting AGM through VC or OAVM.

However, this Circular shall not be construed as conferring any extension of time for holding of AGM’s by the Companies under the provisions of the Companies Act, 2013

The Complete text of the General Circular may be viewed at below link:

https://www.mca.gov.in/bin/dms/getdocument?mds=LzJdfoYrL7zlnxT8HWRv5Q%253D%253D&type=open

Extension of time for holding of Extraordinary General Meetings (EGMs) through Video Conference (VC) or Other Audio Visual Means (OAVM)

On account of ongoing Pandemic, MCA had earlier issued a General Circular No. 14/2020 dated 08^th April, 2020, 17/2020 dated 13^th April, 2020, 22/2020 dated 15^th June, 2020, 33/2020 dated 28^th October, 2020, 39/2020 dated 31^st December, 2020 and 10/2021 dated 23^rd June, 2021 allowing the Companies for holding of EGM through VC or OAVM till 31^st December, 2021.

Now, MCA vide General Circular No. 20/2021 dated 08^th December, 2021 has allowed the Companies whose EGMs are due in the year 2021, to conduct their EGM’s through VC or OAVM on or before 30^th June, 2022 in accordance with the requirements applicable for conducting EGM through VC or OAVM.

The Complete text of the General Circular may be viewed at below link:

https://www.mca.gov.in/bin/dms/getdocument?mds=FNEhC2FrbKO7ANLDeiQ01A%253D%253D&type=open

Last updated: 10/12/2021

Article contributed by:

Bipasha Arora

MBG Corporate Services