The Ministry of Corporate Affairs (MCA) has issued a clarification allowing companies with AGMs due in 2022 to conduct them via video conference or other audio-visual means. This must be done on or before 31st December 2022, adhering to specific requirements. The circular clarifies that this does not grant an extension for holding AGMs under the Companies Act, 2013, and companies failing to meet timelines may face legal action.
General Circular No. 2/2022
File No. Policy-17/57/2021-CL-MCA l
Government of India
Ministry of Corporate Affairs
5th Floor, A Wing, Shastri Bhawan,
Dr. Rajendra Prasad Road, New Delhi 110001
Dated: 05.05.2022
To,
The DGCoA,
All Regional Directors,
All Registrar of Companies,
All Stakeholders.
Subject: Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio-Visual Means (OAVM)-reg.
Sir/Madam,
With reference to Ministry
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FAQ :
The clarification concerns the holding of Annual General Meetings (AGMs) through Video Conference (VC) or Other Audio-Visual Means (OAVM).
Companies whose AGMs are due in the year 2022 are allowed to conduct them via video conference or other audio-visual means.
AGMs must be held on or before 31st December 2022.
No, this circular does not confer any extension of time for holding AGMs under the Companies Act, 2013.
Companies that have not adhered to the relevant timelines shall be liable to legal action under the appropriate provisions of the Companies Act, 2013.