Extension of time for holding annual general meeting for the FY 2019-20

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Extension-of-time-for-holding-annual-general-meeting-by-the-companies-for-the-FY-2019-20

Jurisdictional Registrar of Companies have granted extension for holding annual general meeting by three months from the due date by which AGM ought to have been held as per the applicable provisions of the Company Act 2013. The extension is granted to all the Companies which are unable to hold their AGM for the financial year ended on 31.03.2020 due to the difficulties faced in view of the Covid-19 Pandemic.

Important point from the extension orders of respective ROCs:

  • Extension is granted by three months from the due date of AGM
  • Extension is not given for holding first AGM by the newly incorporated companies.
  • There is no need to file any form (i.e. GNL-1) with ROC to get extension . 
  • Extension is also given to the companies whose application for extension filed earlier rejected by concerned ROC or application is pending for processing with ROC.

Due date for holding Annual General Meeting ?

Annual General Meeting [Section 96(1)]: Every company, other than OPC is required to hold an AGM every year. Following are the key provisions regarding the holding of an AGM:

  • Annual general meeting should be held once every year.
  • First AGM of the company should be held within 9 months from the closing of the first financial year.
  • Subsequent AGM should be held within 6 months from the closing of the financial year.
  • The gap between two AGM should not exceed 15 months.

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