MCA has issued clarification that there will be no suo-moto extension of Annual General Meeting (AGM) for the financial year ended 31.03.2020.
It is clarified that in the event of inability to hold AGM within 6 months of closing of financial year or within 15 months of previous AGM, the companies can avail any of the following options:
1) Holding of AGM through video conferencing (VC) or other audio visual means (OAVM) for the calendar year 2020 within the statutory period; or
2) To file applications in Form No. GNL-1 for seeking extension of time in holding of AGM for the financial year ended on 31.03.2020 with the concerned Registrar of Companies on or before 29.09.2020.