Due Date for conducting AGM for FY 2020-21 extended by 2 months

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Team Studycafe | Sep 23, 2021 | Views 557349

Due Date for conducting AGM for FY 2020-21 extended by 2 months

Due Date for conducting AGM for FY 2020-21 extended by 2 months

The Ministry of Corporate Affairs has extended the Annual General Meeting Due Date for FY 2020-21 by 2 months.

The Central Government has received representations seeking extension of time for holding Annual General Meeting ( AGM) for the financial year 2020-21 ending on 31st March 2021 citing many difficulties faced due to the second wave of Covid- 19 and consequent lockdowns etc.

Accordingly, it has been decided to advise the Registrar of Companies (RoCs) to accord approval for extension of time for a period of two Months beyond the due date by which companies are required to conduct their AGMs for the financial year 2020-21 ended on 31st March 2021.

Kindly find enclosed a copy of tl1c standard template for t11e order to be issued by RoCs under third proviso to sub-section (1) of section 96 of the Companies Act, 2013 ( the Act) for granting extension of time for conducting of AGM for the Financial Year 2020-21 ended on 31.03.2021 .

Please take this action with utmost urgency and issue order before tl1e close of the office today and foiward the copy of tl1e order to this office before for consolidation and uploading it on the MCA21 website. AJso display this order on tl1e Notice Board of your respective offices

As per Sec 96 of Company Act 2013, every company has to hold, a general meeting as its annual general meeting, and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next.

For FY 2020-21, the AGM has to be conducted up to 30th Sep 2021. For AGM to be conducted, Accounts have to be finalized and Audited first, which was difficult in the current situation.

Once AGM is complete, Forms AOC-4 and MGT-7 are uploaded with ROC.

Recently, ICAI has also extended UDIN generation Time Period by 60 Days.

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