MCA via its circular dated December 28, 2022, has allowed the companies to hold AGMs for the year 2023, through Video Conference (VC)/Other Audio Visual Means (OAVM). AGM can be conducted as per section 96 (1) of the Companies Act 2013 within a period of 6 months from the closure of FY i.e. on or before 30th September 2023 through VC/OAVM. This general circular does not grant any extension of time for holding AGMs by the Companies i.e. It only provides relaxation in the mode of conducting the AGM.
General Circular No. 10/2022
File No. Policy-17/57/2021-CL-MCA
Government of India
Ministry of Corporate Affairs
5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. Rajendra Prasad Road, New Delhi 110001
Dated: 28.12.2022
To,
The DGCoA,
An Regional Directors,
All Registrar of Companies,
All Stakeholders.
Subject: Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)-reg.
Sir/Madam,
In continuation to this Ministry’s General Circular No. 20/2020 dated 05.05.2020 and General Circular No. 02/2022 dated 05.05.2022 and after due examination, it has been decided to allow the companies whose AGMs are due in the Year 2023, to conduct their AGMs on or before 30th September, 2023 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated 05.05.2020.
2. It is clarified that this General 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.
3. This issues with the approval of the Competent Authority.
Yours faithfully,
(KMS Narayanan)
Deputy Director
Tel.: 011-2338-7263
Copy to:
1. e-Governance Section and Web Content officer to place the Circular on MCA Website.
2. Guard Pile
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