In light of the COVID-19 pandemic, the MCA had previously issued various Circulars permitting companies to hold general meetings through video conferencing or other audio-visual means and laying down the operational procedures and safeguards in this regard.

MCA has, by a Circular dated December 28, 2022, allowed annual general meetings (‘AGM’) which are due to be held in the year 2023, to be conducted on or before September 30, 2023, through video conferencing or other audio-visual means, in accordance with the procedures specified in the Circulars previously issued. However, the Circular clarifies that the above should not be construed as extension of time for holding AGMs under the Companies Act, 2013 and companies which have not adhered to the relevant timelines will remain subject to legal action under the Companies Act, 2013.

Further, the MCA has, by a separate Circular dated December 28, 2022, allowed companies additional time up to September 30, 2023, to conduct their extraordinary general meetings (for which prescribed date earlier was December 31, 2022) through video conferencing or other audio-visual means, or to transact items through postal ballot (in accordance with the framework provided in MCA Circulars issued earlier).