Clarification of holding of AGM through Video Conference (VC) or Other Audio Visual Means (OAVM)-reg

Last updated: 09 December 2021

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The Ministry of Corporate Affairs (MCA) has issued a clarification regarding the holding of Annual General Meetings (AGMs) via Video Conference (VC) or Other Audio Visual Means (OAVM). Companies whose AGMs are due in 2021 can now conduct them on or before 30th June 2022, following the guidelines in previous circulars. This extension does not grant any additional time for holding AGMs under the Companies Act, 2013, and companies failing to meet deadlines may face legal action.

File No. Policy-17/57/2021-CL-MCA
Government of India
Ministry of Corporate Affairs
5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. Rajendra Prasad Road, New Delhi 110001

General Circular No. 19/2021

Dated: 08.12.2021

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’s General Circular No. 20/2020 dated 05.05.2020 and General Circular No. 02/2021 dated 13.01.2021, it has been decided to allow the companies whose AGMs are due in the Year 2021, to conduct their AGMs on or before 30^th June, 2022 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated 05.05.2020.

2. It is clarified that this Circular shall not be construed as conferring any extension of 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 timelines shall be liable to legal action under the appropriate provisions of the Act.

3. This issues with the approval of the Competent Authority.

Encl.: As above.

Yours faithfully,

(KMS Narayanan)
Deputy Director Tel.: 011-2338-7263

Copy to:

1. e-Governance Section and Web Content officer to place the Circular on MCA Website.

2. Guard File

FAQ :

The notification clarifies the rules for companies holding their Annual General Meetings (AGMs) through Video Conference (VC) or Other Audio Visual Means (OAVM).

Companies whose AGMs are due in the Year 2021 are allowed to conduct their AGMs via VC/OAVM.

Companies can conduct their AGMs on or before 30th June 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.

Notification No : General Circular No. 19/2021
Source : https://www.mca.gov.in/bin/dms/getdocument?mds=qf0BJBm1PRSt%252FPrrLs%252Fc4g%253D%253D&type=open

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