Quick Summary
A big Relief is given by Ministry of Corporate Affairs (MCA) to around 12 lakhs companies today by extending the timeline for holding Annual General Meeting till December 31st from September 30th.
MCA issued directions to RoCs to issue orders without filing of formal application and payment of fee. Even applications already filed but not approved or rejected are also covered for this relief.
MCA is extending this timeline due to COVID-19 and Meeting the demand from various associations for extending time to hold AGM. This is for the first time that such relief generally is given to all companies.
FAQ :
The deadline for holding the Annual General Meeting (AGM) for the financial year 19-20 has been extended to December 31st.
Approximately 12 lakh companies are eligible for this extension, as the Ministry of Corporate Affairs (MCA) has issued a general order.
No, companies do not need to file a formal application or pay any fee for this extension. The MCA has directed Registrars of Companies (RoCs) to issue general orders.
Applications that have already been filed but not yet approved or rejected are also covered under this general relief.
The extension is due to the COVID-19 pandemic and to accommodate demands from various associations for more time to hold their AGMs.
This is the first time that such a general relief has been provided to all companies regarding AGM extensions.
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