Oct 19, 2023

Extension of Time Period for Holding AGM / EGM by Audio Visual Means

In light of the COVID-19 pandemic, the Ministry of Corporate Affairs (‘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.

The MCA has, by way of a Circular dated September 25, 2023, allowed Annual General Meetings (‘AGMs’) which are due to be held in the year 2023 or 2024, to be conducted on or before September 30, 2024, 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 (‘Companies Act’), and companies which have not adhered to the relevant timelines will remain subject to legal action under the Companies Act.

Further, the Circular also allows companies time up to September 30, 2024, to conduct their extraordinary general meetings (‘EGM’) (for which prescribed date earlier was September 30, 2023), through video conferencing or other audio-visual means, or to transact items through postal ballot (in accordance with the framework provided in the MCA Circulars issued earlier).




These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.