Bombay High Court: ‘GIRNAR’ a Well Known Trademark in India  ||  Kerala HC: Criminal Courts of District Judiciary Cannot Recall their Earlier Orders  ||  Madras HC: Only ‘Preponderance of Probability’ Required in Disciplinary Proceedings  ||  Raj HC: Non-Disclosure of Information Wasn’t a Ground for Disqualification Before 2015 Amendment Act  ||  Bom. HC: Workers in Statutory Canteens are Principal Employer’s Employees  ||  Supreme Court: NCLAT Cannot Use its ‘Inherent Powers’ to Subvert Legal Provisions  ||  Supreme Court: NCLAT Cannot Use its ‘Inherent Powers’ to Subvert Legal Provisions  ||  SC Refuses to Mark Presence of Advocate Who Did Not Argue the Matter  ||  SC Sets Aside HC’s Decision to Accept Aadhaar Card as a Proof of Date of Birth  ||  SC Permits Candidate with Blindness to Attend Interview for Selection of Civil Judges in Rajasthan    

Clarification on Extension of Annual General Meeting for the financial year ended as at 31.03.2020 - Companies Act, 2013- (Ministry of Corporate Affairs) (17 Aug 2020)

MANU/DCAF/0095/2020

Company

1.Several representations have been received in the Ministry for providing relaxations in the provisions of Companies Act, 2013 (the Act) or rules made thereunder to allow companies to hold their annual general meeting (AGM) for the financial year ended on 31st March, 2020 beyond the statutory period provided in section 96 of the Act.

2. The matter has been examined in this Ministry and it is stated that this Ministry had inter-alia, clarified vide General Circular No. 20/2020, dated 05.05.2020 [G.C. 20/2020] regarding holding of AGM through video conferencing (VC) or other audio visual means (OAVM) for the calendar year 2020. In addition, the companies which are unable to hold their AGMs were advised to prefer applications for extension of AGM at a suitable point of time before the concerned Registrar of Companies under section 96 of the Act.

3. In view of the above, it is once again reiterated that the companies which are unable to hold their AGM for the financial year ended on 31.03.2020, despite availing the relaxations provided in the G.C. 20/2020 ought to file their applications in form No. GNL-1 for seeking extension of time in holding of AGM for the financial year ended on 31.03.2020 with the concerned Registrar of Companies on or before 29.09.2020.

4. The Registrars of Companies are hereby advised to consider all such applications (filed in Form No. GNL-1) liberally in view of the hardships faced by the stakeholders and to grant extension for the period as applied for (upto three months) in such applications.

Tags : CLARIFICATION   EXTENSION   AGM  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved