MCA Extends AGM and EGM Timeline for Virtual Meetings Until September 30, 2024

Last updated: 26 September 2023

Ministry of Corporate Affairs (MCA) has extended the timeline for holding Annual General Meetings (AGMs) and Extra-Ordinary General Meetings (EGMs) through video conferencing (VC) or other audio-visual means (OAVM) until September 30, 2024.

 

Official copy of the circular is mentioned below

General Circular No. 09/2023

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
Dated: 25.09.2023

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

In continuation to this Ministry’s General Circular No. 20/2020 dated May 05, 2020, General Circular No. 02/2022 dated May 05, 2022 and General Circular No. 10/2022 dated December 28, 2022 and after due examination, it has been decided to allow companies whose AGMs are due in the Year 2023 or 2024, to conduct their AGMs through VC or OAVM on or before September 30, 2024 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated May 05, 2020.

However, it is hereby clarified that General Circular shall not be construed as conferring any extension of statutory 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 statutory timelines shall be liable to legal action under the appropriate provisions of the Act.

Further, in continuation to this Ministry’s General Circular No. 14/2020 dated April 08, 2020, General Circular No. 03/2022 dated May 05, 2022 and General Circular No. 11/2022 dated December 28, 2022 and after due examination, it has also been decided to allow companies to conduct their EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM) or transact items through postal ballot in accordance with framework provided in the aforesaid Circulars up to September 30, 2024.

All other requirements provided in the said Circulars shall remain unchanged.

This issues with the approval of the Competent Authority.



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