Latest Update: MCA has issued a general circular 09/2023 dated 25th September 2023 regarding the extension of the timeline of Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) through Video Conference or Other Audio Visual Means (OAVM) and passing of ordinary and special resolution by the companies under the Companies Act, 2013 read with rules made thereunder till September 30, 2024.
General Circular No. 09/2023
File No. Policy-17 /57 /2021-CL-MCA
GOVERNMENT OF INDIA
5TH Floor, ‘A’ Wing, Shastri Bhawan,
Dr. R.P. Road, New Delhi
All Regional Directors, / All Registrar of Companies
Subjects: Clarification on the holding of Annual General Meeting (AGM) and EGM through video Conference (VC) or other audio-visual means (OAVM).
In continuation to this Ministry’s general Circular No. 20/ 2020 dated 05.05.2020, General Circular No. 02/ 2022 dated 05.05.2022 and General Circular No. 10/ 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.
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 legal action under the appropriate provisions of the Act.
Further, in continuation to this Ministry’s General Circular No. 14, /2020 dated 08.04.2020, General Circular No. 03/ 2022 dated 05.05.2022 and General Circular No. 11 / 2022 dated 28.12.2022 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.
This issues with the approval of the Competent Authority.