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Virtual AGM Meetings

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kings22

Shareholder

149 Points Posted on 25 December 2020

MCA already allows Board Meetings and EGM via Audio Visual Means
MCA also recently Allowed AGM to be conducted using Audio-Visual Means due to the Coronavirus situation as a temporary measure. This is confusing

India seems to have a very rigid corporate law - the government seems to be micromanaging every small meeting and corporate affair. This is contrary to the growth of the country when the world is heading towards more speed and agility in corporate governance. Management teams are more and more distributed and most of the time these meetings are just "ordinary business". This can be counterproductive to the competitive advantage Indian companies can leverage.

Does anyone know if there is a consideration that AGM would also be permanently allowed to be done using Audio Visual means?

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Quick Summary

The discussion revolves around the temporary allowance of virtual Annual General Meetings (AGMs) in India due to the Coronavirus pandemic, mirroring existing provisions for Board and EGM meetings via audio-visual means. Concerns are raised about India's rigid corporate laws hindering agility and the potential competitive disadvantage for Indian companies in a globally fast-paced environment. The core question is whether permanent virtual AGM options will be considered, with the current response indicating no immediate plans for such a change.