MCA allows companies proposing to organise AGM in 2022 for the F.Y ended/ending any time before /on 31.03.2022 through VC/OAVM as per the respective due dates by 30.06.2022

In continuation to what has been reported by us in the trailing e-mail, in another Circular dated 14th December, 2021 the Ministry of Corporate Affairs (“MCA”) has informed that it has decided to allow companies who are proposing to organise Annual General Meeting (“AGM”) in 2022 for the financial year ended/ending any time before /on 31st March, 2022 through VC or OAVM as per the respective due dates by 30th June, 2022 in accordance with the requirements laid down in the previous circular dated 5th May, 2021 (please refer to the trailing e-mails).

Please note– MCA has further clarified that this Circular will not be construed as conferring any extension of time for holding AGMs by the companies under the Companies Act, 2013 (“Act”) and the companies which have not adhered to the relevant timelines will be liable to legal action under appropriate provisions of the Act.

Source: Ministry of Corporate Affairs