Extension of Time Period to Conduct Annual General Meetings through Audio Visual Means

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Mar 31, 2021

Extension of Time Period to Conduct Annual General Meetings through Audio Visual Means

In light of the ongoing pandemic, the MCA had issued various circulars in 2020 permitting companies to hold general meetings through video conferencing or other audio visual means, and laying down the operational procedures and safeguards in this regard (please refer to our Client Alert dated May 15, 2020, accessible here). The MCA has, on January 13, 2021, issued a Circular permitting Annual General Meetings (‘AGMs’) which were due to be held in the year 2020, or become due in the year 2021, to be conducted on or before December 31, 2021 through video conferencing or other audio visual means, in accordance with the procedures specified in the previous circulars. However, the Circular clarifies that no extension is granted for holding AGMs, and companies which have not adhered to the relevant timelines will remain subject to legal action under the Companies Act, 2013 (‘Companies Act’).

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