MCA clarifies Extension of AGM of Financial Year ending on March 31, 2020, by filing Form No. GNL-1
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MCA clarifies Extension of AGM of Financial Year ending on March 31, 2020, by filing Form No. GNL-1

The Ministry of Corporate Affairs (MCA) on Monday issued the clarification for the #extension of the Annual General Meeting (#AGM) of the financial year ending on March 31, 2020, by ling Form No. GNL-1 on or before 29 September 2020.


The Ministry has received several representations requesting relaxations in the provisions of Companies Act, 2013, or rules made thereunder to allow companies to hold their annual general meeting (AGM) for the financial year ended on 31 March 2020 beyond the statutory period provided in section 96 of the A2.


“The matter has been examined in this Ministry and it is stated that this Ministry had inter-alia, clarified vide General Circular No. 20/2020, dated 05.05.2020 (G.C. 20/2020) regarding holding of AGM through video conferencing (VC) or other audiovisual means (OAVM) or the calendar year 2020. In addition, the companies which are unable to hold their AGM were advised to prefer applications for extension of AGM at a suitable point of time before the concerned Registrar of Companies under section 96 of the Act,” the clarification said.


The Ministry once again reiterated that the companies which are unable to hold their AGM for the financial year ended on 31.03.2020, despite availing the relaxations provided in the G.C. 20/2020 ought to file their applications in form No. GNL-1 for seeking an 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. seeking an extension of time in holding of AGM for the financial year ended on March 31, 2020, with the concerned Registrar of Companies on or before  September 29, 2020.

 
 
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