AGM extension

Registrar of Companies of various jurisdictions in India have issued an order, today, granting general extension of time to hold the annual general meeting of the shareholders of companies in India by 3 months time upto 31st December, 2020. All ROCs have issued identical orders to that effect. General extension is given without having to make an application in form GNL-1 and wherever application has been made in form GNL-1 and is pending processing, even in those cases it is considered as approved. Even those cases which were rejected due to any reasons has been granted extension, without those companies having to do any further in the matter.

This was very much required as 99% of the companies are facing the problem with respect to completing the audit of their accounts, holding a board meeting to approve the accounts, convene the annual general meeting and hold the same by 30th September, 2020, the deadline for holding annual general meeting for those companies whose financial years ended on 31st March, 2020.

Here is a copy of the said order.

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