Direct Taxes Professionals’ Association Requested FM to extend the due date for holding Annual General Meeting (AGM) of Companies as mandated in section 96 of the Companies Act 2013 to 31st March 2021 and the gap between two AGMs may be allowed upto 21 months. Full Text of the Representation is as follows:-
DIRECT TAXES PROFESSIONALS’ ASSOCIATION
Income Tax Building, 3, Govt. Place West, Ground Floor, Kolkata 700001 Ph – 033-22420638
Ref. No. DTPA/Rep/20-21/14
Dated 15thDecember, 2020
Smt. Nirmala Sitharaman
Hon’ble Minister of Finance and Corporate Affairs
Government of India
Department of Revenue
North Block
New Delhi – 110001
[email protected]
Respected Madam ,
Sub: Request to extend the due date for holding Annual General Meeting (AGM) of Companies as mandated in section 96 of the Companies Act 2013
Respected Madam, we wish to appraise your good self that in West Bengal, as well as other States, normalcy in operations is yet to set in as most of the working force commutes by local train and the local train service has resumed with partial operations from 11th November, 2020, which makes difficult for work force to reach their office. Many professionals as well as their key staff have suffered infection from Covid-19. Therefore, in most of the offices the Businessmen as well as Professionals are unable to complete their incomplete work and prepare the financial statements for the year ended 31st March 2020.
As you are aware that section 96 of the Companies Act 2013 mandates that all companies will have to hold their Annual General Meeting latest by 30th September and gap between two such AGMs should not be more than 15 months. There is a further requirement that a 21 days clear Notice for the AGM has to be given to shareholders and therefore all companies need their Audit Reports to be ready in all respect latest by 8th September, which under the present circumstances seems very difficult. We also appreciate that MCA has already issued one Notification No. ROC/WB/Admin./2020/2717 for West Bengal where by all Companies required to hold AGM by 30/09/2020 can hold AGM till 31/12/2020.
However since the Entities have not yet been able to complete their accounts and audit due to Corona Pandemic, lack of local trains, many entrepreneurs and key staff having suffered COVID and due to poor percentage of staff coming in to offices.
Therefore, It is earnestly requested that the last date for holding AGM may kindly be extended to 31st March 2021 and the gap between two AGMs may be allowed upto 21 months.
Thanking you,
Your’s faithfully
For Direct Taxes Professionals’ Association
N K Goyal
President
Adv Narayan Jain
Chairman- Representation Committee
Adv. Mamta Binani,
Co-Chairman- Representation Committee
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Author Bio
I am from Kerala. Due to Covid19 pandamic. Our office were remain closed upto the end of October 2020 and we opened the office in November 2020 only. During November 2020 and December 2020 we are very busy schedule to file Income Tax Return. we humble request to extend the AGM Date coupled with DPT3 filing date, CFSS2020 scheme and LLP Settlement Scheme 2020 upto 31 March 2021 only and there is no need to extend beyond 31 March 2021 We humbly request our respected Smt. Nirmala Seetharaman ji may please consider and enable to utilise CFSS2020 scheme and LLP-SS-2020 for the benefit of Poor and Small private limited companies and ofcourse it will help to poor professional like me also. Thanking you