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MCA extends time for holding annual general meetings by two months

The ministry has received representations seeking extension of time for holding AGMs, "citing many difficulties due to the second wave of COVID-19 and consequent lockdown".

September 23, 2021 / 04:30 PM IST

The Ministry of Corporate Affairs (MCA) issued the Office Memorandum on September 23 wherein it extended time by two months beyond September for companies to conduct their annual general meetings (AGMs) for the fiscal year ended March 2021.

The corporate affairs ministry has asked the Registrar of Companies (RoCs) to give two more months to companies for holding their AGMs.

"It has been decided to advise the Registrar of Companies (RoCs) to accord approval for extension of time for a period of two months beyond the due date by which companies are required to conduct their AGMs for the financial year 2020-21 ended on 31st March 2021," the Ministry said.

The ministry has received representations seeking extension of time for holding AGMs, "citing many difficulties due to the second wave of COVID-19 and consequent lockdown".

The communication is addressed to all the Regional Directors and RoCs under the ministry.

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As per the Companies Act, 2013,  a company must hold its AGM within a period of six months from the end of the financial year. However, in the case of a first annual general meeting, the company can hold the AGM in less than nine months from the end of the first financial year.
Shreeja Singh

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