Conduct your AGMs for the year 2022, on or before 31 December 2022
Announcement from MCA
Every company registered with the Ministry of Corporate Affairs (MCA) in India, other than a one-person company, must hold an Annual General Meeting (AGM) each year according to Section 96 of Companies Act, 2013. AGM rules require companies to ensure that AGM is completed within six months from the end of the financial year and that the gap between AGMs of 2 consecutive years is not more than 15 months.
The pandemic, however, hasn’t allowed companies to function smoothly or hold AGM within due dates. Despite relaxations offered by MCA to companies to conduct AGMs and board meetings virtually, challenges caused by Covid-19 are unique.
Given such challenges, companies, professional institutes, and industry bodies made representations to allow conducting AGMs virtually, owing to the current situation.
Under the provisions of section 96(1) of Companies Act, 2013 (third provision), the MCA has directed all registrars to hold their AGM which are due for 2022, to be held on or before 31 December 2022.
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