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General Circular No: 09/2023
Circular Date: 25th September 2023
Applicable Period: Year 2023, 2024
Relevant Act / Rule: Companies Act, 2013
In continuation to the Ministry of Corporate Affairs (MCA) General circular No. 20/ 2020 dated 05.05.2020, General Circular No. 02/ 2022 dated 05.05.2022 and General Circular No. 10/ 2022 dated 28.12.2022, MCA has decided to allow Companies whose AGMs are due in the year 2023 or 2024 to conduct the AGMs through VC or OAVM on or before 30th September, 2024 in accordance with the requirements laid down in Para 3 and Para 4 of the General Circular No. 20/2020 dated 05.05.2020.
It has also been clarified that the General Circular shall not be construed as conferring any extension of statutory time for holding of AGMs by the Companies under Companies Act, 2013 (‘the Act’) and further that the Companies not adhering to the statutory timelines shall be liable to legal action under the Act.
Further, in continuation to this Ministry’s General Circular No. 14/2020 dated 08.04.2020, General Circular No. 03/ 2022 dated 05.05.2022 and General Circular No. 11 / 2022 dated 28.12.2022, MCA has also allowed 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 30th September, 2024.
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