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.

Kindly find attached circular for reference.