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Regulatory update

Updates from MCA

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On 25 September 2023, the Ministry of Corporate Affairs (MCA) issued a circular stating that the companies whose Annual General Meetings (AGMs) are due in 2023 or 2024, can conduct the AGM through Video Conference (VC) or Other Audio-Visual Means (OAVM) on or before 30 September 2024.

The circular clarifies that this should not be implied as conferring any extension of the time for holding the AGMs by the companies. Accordingly, the companies which do not adhere to the relevant statutory timelines, would be liable to legal consequences under the relevant provisions of the Companies Act, 2013.

Further, the aforementioned extension and clarification would be applicable in case of Extraordinary General Meetings (EGMs) as well.

To access the text of the circular, please click here

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