Companies get till December 31 for FY20 AGMs

NEW DELHI: The ministry of corporate affairs (MCA) on Tuesday allowed extending the timeline for holding annual general meetings (AGMs) for 2019-20 till December 31 from the earlier September 30, providing relief to around 12 lakh companies.
MCA issued directions to the Registrar of Companies (RoCs) to give orders, without filing of formal application and payment of fee. Even applications already filed but not approved or rejected are also now covered for this relief, an official statement said.
MCA is extending this timeline due to Covid-19 and meeting the demand from various associations for extending time to hold an AGM. This is for the first time that such relief has been given to all companies, the statement said.
The MCA had earlier allowed more time to companies to hold AGMs, provided they filed a separate application for this. The Covid-induced lockdown has hurt companies’ ability to hold AGMs and several of them had urged for an extension of the deadline. The MCA had also allowed companies to hold AGMs and EGMs through video conference.