Companies Get More Time To Conduct Annual General Meetings
The government has given companies more time to conduct their annual general meeting for 2019-20, amid the coronavirus pandemic. They are now allow to hold their AGMs by Dec. 31, 2020, from Sep. 30, 2020, earlier.
The corporate affairs ministry has asked Registrars of Companies to issue orders in this regard without filing of formal application and payment of fee. "Even applications already filed but not approved or rejected are also covered for this relief," an official release said on Tuesday.
The ministry is implementing the Companies Act.
According to the release, a big relief has been given to around 12 lakh companies by extending the timeline for holding the annual general meetings till December 31 from September 30.
The relaxation was given in the wake of the coronavirus pandemic. There has been demand from various associations for extending the time to hold AGMs, the release said.