Three months’ general extension for holding AGM has been granted to all the companies because of Covid 19.
No application is required to be made!
Each company, other than the One Person Company(OPC), shall hold, in addition to any other meeting, a General Meeting as its Annual General Meeting (AGM) each year and specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between two AGM.
First AGM shall be held within nine months from the date of the close of the first financial year of the company and, in any other case, within six months from the date of the close of the financial year.
Registrar may, for any special reason, extend the period during which any annual general meeting, other than the first annual general meeting, is held by a period not exceeding 3 months.
Different representations have been received from companies, industry bodies and professional institutes, which point out that several companies find it difficult to hold their AGM for the financial year ended 31.03.2020 because of the difficulties faced by the Covid-19 Pandemic.
Due to such unprecedented special reasons, the time within which the AGM for the financial year ended on 31.03.2020 is required to be held is ought to be extended.
Extension of Annual General Meeting, other than the first AGM, for the financial year ended on 31.03.2020 for companies (.e. Registrar of Companies, NCT of Delhi & Haryana). which are unable to hold their AGM within the specified limits can also be availed via this notification..
Explanation: It is hereby clarified that the extension granted under this Order shall also cover the
(i) Pending applications filed in Form No. GNL 1 for the extension of AGM for the financial year ended on 31.03.2020, which are yet to be approved;
(ii) Applications filed in Form No. GNL-1 for the extension of AGM for the financial year ended on 31.03.2020, which were rejected,
where approval for the extension of AGM up to 3 months from the due date of the AGM shall be deemed to have been granted by the undersigned without any further action on the part of the company.