AGM Extension for FY ended as on 31.03.2020 via e-form GNL-1
Due to spread of novel corona virus pandemic and consequent nationwide lockdown announced by Government of India, several representations were made to Ministry of Corporate affairs (MCA) to allow companies to hold their annual general meeting (AGM) for the financial year ended on 31st March,2020 beyond the statutory period provided in the act.
MCA has examined the matter and vide General Circular No. 28/2020, dated 17/08/2020 has clarified that the companies which are unable to hold their AGM for the financial year ended on 31/03/2020 should file their applications in form no. GNL-1 for seeking extension of time for holding AGM for the financial year ended on 31/03/2020 with the concerned Registrar of Companies on or before 29/09/2020 but Companies need not wait for the last date of Sept. 29 stipulated by MCA to file the request as the approval if denied would culminate into a long-drawn process of compounding penalty for the companies.
Proviso to section 96(1) provides that the Registrar may, for any special reason, extend the time within which any annual general meeting, other than the first annual general meeting, shall be held, by a period not exceeding three months.
Click Here for Download of Circular.
No comments:
Post a Comment
Please Like, Subscribe and Comment on my blog. In case of any doubt please let me know through email