The MCA vide General Circular No. 21/2021 dated December 14, 2021 allowed the companies who are proposing to organize Annual General Meetings (“AGMs”) in 2022 for the Financial Year ended/ending any time before/on March 31, 2022 through Video Conference (“VC”) or Other Audio Visual Means (“OAVM”) as per the respective due dates by June 30, 2022.
In continuation of Ministry’s General Circular No. 20/2020 dated May 05, 2020, General Circular No. 02/2021 dated January 13, 2021 and General Circular No. 19/2021 dated December 08, 2021, it has also been decided to allow the companies who are proposing to organize AGMs in 2022 for the Financial Year ended/ending any time before/on March 31, 2022 through VC or OAVM as per the respective due dates by June 30, 2022 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated May 05, 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 (“the Act”) and the companies which have not adhered to the relevant timelines shall be liable to legal action under the appropriate provisions of the Act.
The General Circular can be accessed at: https://www.mca.gov.in/bin/dms/getdocument?mds=%252FsmI3Qxz3XlO4y8gLsakgg%253D%253D&type=open