Clarification on Extension of Annual General Meeting (AGM) for the financial year ended as at 31 March 2020.
Ministry of Corporate Affairs vide general circular dated 17 August 2020 has reiterated that the companies which are unable to hold their Annual General Meeting (“AGM”) for the financial year ended on 31 March 2020, even after availing the relaxations provided in the G.C. 20/2020 should file an applications in form No. GNL-1 to seek the extension of time in holding of AGM beyond the statutory period provided in Section 96 of the Companies Act, 2013 with the concerned Registrar of Companies on or before 29 September 2020.
MCA has also advised the Registrar of Companies to liberally consider all such applications in view of the hardships faced by the stakeholders and to grant the extension for a period (up to 3 months) applied in such applications.
The circular can be accesses here