MCA Allows companies to hold Extraordinary General Meetings through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails without requiring the shareholders to physically assemble at a common venue till June 30, 2020.
1. MCA allows listed companies or companies with 1,000 shareholders or more which are required to provide an e-voting facility under the Companies Act, 2013 to conduct EGM through VC/ OAVM and e-Voting.
2. For other companies, a highly simplified mechanism for voting through registered emails has been put in place for easy compliance.
3. The facility for the appointment of proxies has been dispensed with, while representatives of bodies corporate will continue to get appointed for participation in such meetings.
4. Further, all resolutions passed through this framework will be required to file with the RoC within 60 days, so that such resolutions may be viewed publicly.
The Ministry’s circular dated 08 April 2020 is available at http://www.mca.gov.in/Ministry/pdf/Circular14_08042020.pdf
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