Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)
Clarification on passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with rules made thereunder on account of COVID-19-Extention of timeline
Applicability: Every Company
Summary of the Clarification Circular(s):
MCA Allowed Companies whose AGMs are due in the Year 2022, to conduct their AGMs / EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM):
It has been decided to allow the companies whose AGMs are due in the Year 2022, to conduct their AGMs / EGMs on or before 31st December, 2022 through Video Conference (VC) or Other Audio Visual Means (OAVM).
This Circular shall not be construed as conferring any extension of time for holding of AGMs by the companies. For seeking extension of date for holding AGM, Companies must follow the procedure prescribed under the provisions of the Companies Act, 2013 and file requisite Application in e-Form GNL-1:
It is further 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.
Link of Relevant Circulars:
| Title | Notification No. | Date |
|---|---|---|
| EGM through VC or OAVM up to 31st December, 2022 | General Circular No. 3/2022 | 05/05/2022 |
| AGM through VC or OAVM up to 31st December, 2022 | General Circular No. 2/2022 | 05/05/2022 |
