Holding of annual general meetings by companies whose financial year has ended on 31st December, 2019

Last updated: 24 April 2020
Quick Summary
This notification from the Ministry of Corporate Affairs addresses difficulties faced by companies in holding their Annual General Meetings (AGMs) due to COVID-19 restrictions. For companies whose financial year concluded on 31st December 2019, the AGM can now be held within nine months of the financial year's closure, meaning by 30th September 2020. This extension will not be considered a violation of the Companies Act, 2013.

General Circular No. 18/2020 F. No. 2/4/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhawan, Dr. R. P. Road. New Delhi-110001 Dated: 21st April, 2020 To All Regional Directors, All Registrars of Companies. All Stakeholders. Subject: Hold
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FAQ :

The circular concerns the holding of annual general meetings (AGMs) for companies whose financial year ended on 31st December 2019.

Due to COVID-19 related social distancing norms and restrictions, companies have faced difficulties in holding their AGMs.

Companies whose financial year ended on 31st December 2019 can hold their AGM by 30th September 2020.

No, holding the AGM by 30th September 2020 will not be viewed as a violation of the Companies Act, 2013.

This specific extension applies to companies whose financial year (other than the first financial year) has ended on 31st December 2019.

 

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Notification No : General Circular No. 18/2020 
Published in Corporate Law
Source : http://www.mca.gov.in/Ministry/pdf/Circular18_21042020.pdf
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