MCA has issued General Circular 9/2023 dated 25th September 2023, extending the timeline for holding Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) due in 2023 and 2024. Companies can now conduct these meetings through Video Conference (VC) or Other Audio Visual Means (OAVM) and pass Ordinary and Special resolutions under the Companies Act, 2013 until 30th September 2024. This MCA decision aligns with prior circulars issued on the subject, specifically Circulars 20/2020, 2/2021 and 10/2022.
However, it’s important to note that this extension by MCA does not alter the statutory timeline for holding AGMs as stipulated under the Companies Act, 2013. Companies failing to comply with the relevant statutory timelines may face legal action. Additionally, companies are permitted to conduct EGMs via VC, OAVM, or postal ballot in line with established frameworks until September 30, 2024. All other requirements outlined in the above-mentioned previous MCA Circulars remain unchanged.
MCA General Circular 9/2023 dated 25/09/2023: Timeline for Holding AGM/EGM due in 2023 & 2024 using VC/OAVM extended upto 30/09/2024