Extension of time for Holding of AGM & EGM through VC Till 30th September, 2023

MCA has issued General Circular No 10/2022 and General Circular No 11/2022 dated 28.12.2022 in respect of clarification of holding of AGM & EGM through Video Conferencing (VC).

MCA has first time issued circular vide No. 14/2020 on 08.04.2020 in respect of holding of EGM through Video Conferencing and Circular No. 20/2020 dated 05.05.2020 in respect of holding of AGM through Video Conferencing.

After that so many circulars have been issued by MCA like Circular No. 20–21/2021 dated 8.12.2021 and 14.12.2021 in respect of extension of time of Holding of AGM and EGM through VC.

In General Circular No 2/2022 and 03/2022 dated 05.05.2022 MCA has extended Time period for holding of AGM / EGM or passing of Ordinary/ Special Resolution through Video Conferencing till 31st December 2022

RECENT CIRCULAR:

In the recent General Circular No 10/2022 dated 28.12.2022 & General Circular No 11/2022 dated 28.12.2022 MCA has extended Time period for holding of AGM / EGM or passing of Ordinary/ Special Resolution through Video Conferencing till 30^th September 2023.

EFFECT:

According to these circulars, any type Company wants to hold their General Meeting through Video Conferencing;

• EGM can be held through VC till 30^th September 2023 for passing of any type of Ordinary and Special Resolution
• AGM can be held through VC for the FY ended 31 March 2023 or any previous financial years till 30^th September 2023 for conducting of any Special or ordinary business.

QUESTIONS:

• If Company holds their AGM through Video Conferencing, can they hold their AGM for FY ended 31.03.2022 upto 30^th September 2023?

MCA has extended the time for mode of holding of AGM. Due date of AGM has not been extended. AGM must held till 30^th September 2022.

• In which situations company can hold their AGM through Video Conferencing for FY 31.03.2022 after 31^st December?

Company having opportunity to hold their AGM through VC till 30^th September 2023. However, there is no situation when company can hold AGM after 31^st December 2022 except one. When Company hold after Due date and after holding AGM apply for compounding with RD u/s 460.

 CONCLUSION:

Note that, this extension only allowing Company to hold General Meeting in any mode. Whether through Physical or Video Conferencing mode till 30^th September 2023.

It is specifically mention that, this circular should not considered any type of Extension of Holding of AGM of any year.

Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).