Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)

Last updated: 19 January 2021

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This notification clarifies the rules for holding Annual General Meetings (AGMs) via video conferencing (VC) or other audio-visual means (OAVM). Companies whose AGMs were due in 2020 or become due in 2021 can now hold them by 31st December 2021, following specific guidelines. This circular does not grant an extension for companies that have already missed their deadlines.

General Circular No. 02/2021

F. No. 2/6/2020-CL-V
Government of India
Ministry of Corporate Affairs

5^th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. R. P. Road, New Delhi
bated: 13th January, 2021

To
The DGCoA,
All Regional Directors,
All Registrar of Companies,
All Stakeholders.

Subject: Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM)

Sir/Madam,

In continuation of this Ministry’s General Circular No. 20/2020, dated 05th May, 2020 and after due examination, it has been decided to allow companies whose AGMs were due to be held in the year 2020, or become due in the year 2021, to conduct their AGMs on or before 31.12.2021, in accordance with the requirements provided in paragraphs 3 and 4 of the General Circular No. 20/2020.

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, and the companies which have not adhered to the relevant timelines shall remain subject to legal action under the Companies Act, 2013.

3. This issues with the approval of the competent authority.

Yours faithfully,

(KMS Narayanan)
Assistant Director (Policy)

Copy forwarded for information to :- 1. e-governance section and web contents officer to place the circular on MCA website and 2. Guard File.

FAQ :

The notification provides clarification on holding Annual General Meetings (AGMs) through video conferencing (VC) or other audio-visual means (OAVM).

This clarification applies to companies whose AGMs were due in the year 2020, or become due in the year 2021.

Companies can conduct their AGMs on or before 31st December 2021.

Yes, companies must conduct their AGMs in accordance with the requirements provided in paragraphs 3 and 4 of General Circular No. 20/2020.

No, this circular shall not be construed as conferring any extension of time for holding AGMs by companies under the Companies Act, 2013. Companies that have not adhered to the relevant timelines remain subject to legal action.

Guest

Notification No : General Circular No. 02/2021
Published in Corporate Law
Source : http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.02_14012021.pdf

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