Extension of AGM for FY 2019-2020
Navigating challenging times such as these is not easy for businesses.
To help companies deal with regulatory and compliance requirements better , the Ministry of Corporate Affairs (MCA) released General Circular No. 20/2020, dated 05.05.2020 allowing companies to conduct Annual General Meetings (AGM) through video conferencing (VC) or other audio visual means (OAVM)
To further assist companies who have not been able to conduct their AGM on time due to Covid-19 related restrictions and the unique challenges that come along, MCA has recently released another circular General Circular No. 28/2020, dated 17.08.2020 clarifying that such companies may apply for an AGM extension using the form no. GNL – 1.
The application must be made latest by 29 Sep 2020, for extension of deadline by up to 3 months
The companies which are unable to hold their AGMs must present applications for extension of AGM to the concerned ROC, under section 96 of the Act.
The Registrars of Companies have also been advised to consider all such applications liberally.
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