ROCs directed to approve the extension beyond the due date of conducting AGM
News Update: It has been decided that RoCs should be directed to accord approval for an extension of 3 months. The extension will be granted beyond the due date by which companies are required to conduct their Annual General Meetings for their financial year 2019-20 ending on 31st March 2020. This news update was made by Ministry of Corporate Affairs
This is a sigh of relief for many companies. For FY 2019-20 the last date of conducting AGM is 30th Sep 2020. But this time due to COVID, many companies represented ROC for extension. As due to lockdown closing and Audit could not take place as per due timeline.
MCA vide General Circular no. 28/ 2020 dated 17th August 2020 has issued Clarification on Extension of Annual General Meeting (AGM) for the financial year ended as at 31.03.2020 – Companies Act, 2013.
MCA suggested that Companies can voluntarily file application for Extension of AGM. Form GNL-1 can be filed with with the concerned ROC for seeking extension.
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