After the pandemic, the way we work has changed for good. Zoom became so huge that it’s now a go-to way for companies to hold meetings.
After the threat of the new Covid variant ‘Omicron’, The Ministry of Corporate Affairs has issued a circular which will allow the companies to hold their Annual General Meetings due to be held in 2021 till June 2022 over a video conference.
The circular also allows transacting items through postal ballots. The circular also clarifies that it is in no way an extension of time to hold a meeting. The Ministry had earlier extended the time by two months to hold an AGM for the fiscal year ended March 2021.
Companies Act 2013 makes it mandatory for a company to hold an Annual General Meeting each year in addition to any other meetings.
The circular further states that no extension to hold AGM would be granted beyond June 30, 2022. The ministry has issued two separate circulars: Clarification on passing ordinary and special resolutions under the companies act and clarification on holding the AGM through Video Conference or other audiovisual means.