MCA has issued Circular no. 02/2021 dated 13th January, 2021 wherein companies whose AGMs were due to be held in the year 2020, or become due in the year 2021 are allowed to conduct their AGM on or before 31st December 2021 through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) i.e. in accordance with the requirements as provided in paragraphs 3 and 4 of the General Circular No. 20/2020 dated 5th May, 2020.

Further, it has been clarified, that the circular shall not be considered as any extension of time for holding of AGMs by the companies under the Companies Act, 2013 and the companies which have not adhered to the relevant timelines shall remain subject to legal action under the Companies Act, 2013.

Full Text of the Circular is as follows:-

General Circular No. 02/2021

F. No. 2/6/2020-CL-V
Government of India
Ministry of Corporate Affairs

5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. R. P. Road, New Delhi
bated: 13th January, 2021

To
The DGCoA,
All Regional Directors,
All Registrar of Companies,
All Stakeholders.

Subject: Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)

Sir/Madam,

In continuation of this Ministry’s General Circular No. 20/2020, dated 05th May, 2020 and after due examination, it has been decided to allow companies whose AGMs were due to be held in the year 2020, or become due in the year 2021, to conduct their AGMs on or before 31.12.2021, in accordance with the requirements provided in paragraphs 3 and 4 of the General Circular No. 20/2020.

2. It is 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, and the companies which have not adhered to the relevant timelines shall remain subject to legal action under the Companies Act, 2013.

3. This issues with the approval of the competent authority.

Yours faithfully,

(KMS Narayanan)
Assistant Director (Policy)

Copy forwarded for information to :- 1. e-governance section and web contents officer to place the circular on MCA website and 2. Guard File.

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