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

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The Ministry of Corporate Affairs ( MCA ) vide General Circular No. 02/2021 dated January 13, 2021 issued Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM).

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.

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.

The General Circular can be accessed at: http://mca.gov.in/Ministry/pdf/GeneralCircularNo.02_14012021.pdf

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