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

Last updated: 24 April 2020
Quick Summary
Due to the challenges posed by COVID-19, the Ministry of Corporate Affairs has extended the deadline for companies whose financial year ended on 31st December 2019 to hold their Annual General Meetings (AGMs). These companies now have until 30th September 2020 to conduct their AGM, which is an extension from the usual six-month period. This clarification ensures that holding the AGM by this new date 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 :

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

The deadline has been extended due to difficulties in holding AGMs caused by COVID-19 related social distancing norms and restrictions.

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

The Companies Act, 2013 generally allows companies to hold their AGM within six months from the closure of the financial year.

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

 

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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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