AGM Extension For the FY March,2020
Section 96 – Companies Act, 2013
Every Company, other than One Person Company (OPC), must hold a general meeting in each year apart from other meetings as Annual General Meeting (AGM). The AGM must be held within six months from the closing date of financial year. A notice of 21 days has to be sent to all members.
As per Section 96 of the Companies Act, 2013:Every Company, other than One Person Company (OPC), must hold a general meeting in each year apart from other meetings as Annual General Meeting (AGM). The AGM must be held within six months from the closing date of financial year. A notice of 21 days has to be sent to all members.
Every Company, apart from OPC, must have to hold in addition to other meetings, by giving a notice about the meeting, not more than 15 months in between the date of AGM to the next. A Company may hold its first AGM within the period of 9 months from closing of its first financial year otherwise in other cases within the period of 6 months. [Section 96(1) of the Companies Act,2013]. As per the above, if a company holds its meeting, then it has no need to call an AGM in the year of its incorporation.
During Pandemic : MCA Clarification For the FY 2019-20
a) Ministry has already provided digital AGM platform to all the Companies. Ministry vide General Circular No. 20/2020 has clarified that Companies can hold AGM for the calendar year 2020 M through video conferencing (VC) or other audio visual means (OAVM).
b) Company can voluntary apply for AGM extension.
Companies can voluntary file application for Extension of AGM with the concerned Registrar of Companies (despite availing the relaxations provided in the General Circular 20/2020).
MCA E-Form and due date to apply for extension:
Form no. – GNL-1
Last date to apply for extension : 29.09.2020
