EXTENSION OF TIME FOR HOLDING OF ANNUAL GENERAL MEETING (AGM) FOR THE FINANCIAL YEAR 31-03-2021 – Eshwars
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EXTENSION OF TIME FOR HOLDING OF ANNUAL GENERAL MEETING (AGM) FOR THE FINANCIAL YEAR 31-03-2021

Authored by Lalitha

The Companies Act (“Act”) mandates that AGM is to be held taking two time periods into account.  For the gap between AGMs, you may refer to our article http://eshwars.com/blog/wp-content/uploads/2020/10/october.html.

For the AGMs to be held for the financial year ending 31st March 2021, in view of the pandemic situation, ROCs felt the need to invoke the powers vested on them, and have given a blanket extension of time to all the companies within its jurisdiction, which are unable to hold their AGM within the due date by a period of two months from the due date by which the AGM should have been held.  It has also been clarified that this extension is not applicable to companies that have made the application for extension of AGM and where the extension has been granted for a period of more than two months.

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