India - Extension Of Timelines For Conducting AGMs.

Legal News & Analysis - Asia Pacific - India - Regulatory & Compliance

15 October, 2021

 

The Ministry of Corporate Affairs (“MCA”) vide an office memorandum dated 23 September 2021 had advised each of the Registrar of Companies (“ROCs”) to grant an extension of time to the companies for holding AGMs for the financial year ended on 31 March 2021. The extension has been granted in view of the covid-19 pandemic.

 

Subsequent to the office memorandum issued by the MCA, a number of ROCs have extended the time limit within which the companies must hold their AGM, by a period of 2 (two) months. The due date for these companies to hold their AGM has accordingly been extended from 30 September 2021 to 30 November 2021. This relaxation of 2 (two) months is not available for companies who are required to hold their first AGM by 31 December 2021.

 

The extension under the orders passed by the ROCs, also cover the applications that would have been filed for extension in the due date of the AGMs, which were yet to be approved or had been rejected, or where the extension approved was for a period less than 2 (two) months. However, the orders do not cover the applications for which an extension of more than 2 (two) months has already been granted.

 

Please click here to view the orders passed by the various ROCs. 

 

 

For further information, please contact:  


Souvik Ganguly, Partner, Acuity Law