Clarification on holding of Annual General Meeting (AGM) and EGM through Video Conference (VC) or Other Audio Visual Means (OAVM) and passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with rules made thereunder – Extension of timeline.
Subject: Clarification on holding of Annual General Meeting (AGM) and EGM through video Conference (vC) or other Audio visual and passing of Ordinary and Special resolutions by the companies under the Companies Act,2013 read with Rues made thereunder -Extension of timeline
Sir/Madam,
In continuation to this Ministry’s general circular No. 20/ 2020 dated 05.05.2020, General Circular No. 02/ 2022 datcd 05.05.2022 and General Circular No. 70/ 2022 dated 28.72.2022 and after due examination, it has been decided to allow companies whose AGMs are due in the Year 2023 or 2024, to conduct their AGMs through vC or oAVM on or before 30th September, 2024 in accordance with the requirements laid down in Para 3 and Para 4 o( the General Circular No. 20/2020 dated 05.05.2020.
2. However, it is hereby clarified that General Circular shall not be construed as conferring any extension of statutory 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 statutory timelines shall be liable to legel action under the appropriate provisions of the Act.
3. Further, in continuation to this Ministry’s General Circular No. 14,/2020 dated 08.04.2020, General Circular No. 03/ 2022 and General Circular No. “17 / 2022 dated 28.72.2022 and after due examination, it has also been decided to allow companies to conduct their EGMs through video Conference (VC) or other Audio Visual Means (OAVM) or transact items through postal ballot in accordance with framework provided in the aforesaid Circulars up to 30th september, 2024. All other requirements provided in the said Circulars shall remain unchanged.
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