What is the due date of annual general meeting (AGM) for the FY 2020-21?

Due date of annual general meeting for the financial year 2020-21 ending on March 31st 2021 extended by  two months by MCA- Big relief for small and medium companies.

According to section 96 of companies Act 2013, every company including private limited companies shall hold an Annual general meeting(AGM) in each year by giving 21 days’ notice in advance in all the shareholders. 

The due date to hold annual general meeting shall be earliest of the following.

1) Not more than 15 months gap between the two AGM.

2) 6 months from the end of the financial year.

3) 30th September of every year.

Hence typically AGM falls due on 30th September of every year. There is exception to the rule that the above rules shall not apply in case of first annual general meeting.

The above due date can be extended by 3 months on account of special reason by the registrar.

On 23.09.2021 vide office memorandum dated 23.09.2021, on account of various representations received citing second wave of COVID-19 and lockdown has extended the due date of holding AGM by 2 months and have requested all the registrar to extend the due date of holding AGM, however formal notification from the office of various sub-registrar is still awaited. Some of the registrar on the basis of MCA advisory have issued the formal notification while from some of the office of registrar the formal notification is yet to be received and companies including multinationals are waiting for the formal notification.


No comments:

Post a Comment

What is the due date of annual general meeting (AGM) for the FY 2020-21?

Due date of annual general meeting for the financial year 2020-21 ending on  March 31 st 2021   extended by  two months by MCA- Big relief ...