The Ministry of Corporate Affairs (“MCA”) has, in a Circular dated 15th June, 2020, allowed companies to conduct Extraordinary General Meetings (“EGMs”) through video conferencing (“VC”) or other audio visual means (“OAVM”) or by passing certain items through postal ballot till 30th September, 2020.
Background:
The MCA had in Circulars dated 8th April,2020 (General Circular No. 14/2020) and dated 13th April (General Circular No. 17/2020), allowed companies to hold EGMs through VC or OAVM or by passing of certain items only through postal ballot and provided the framework for the same, valid upto 30th June, 2020.
Requests were received from the stakeholders for extending the period upto which the framework provided in the aforesaid Circulars may be utilized by the companies.
Hence, MCA has issued the current circular for further extending the date till which companies will be allowed to conduct their EGMs through VC or OAVM or transact items through postal ballot.
Source: Ministry of Corporate Affairs
