MANU/DCAF/0076/2020

Ministry : Ministry of Corporate Affairs

General Circular No. : 22/2020

Date : 15.06.2020

Notification/ Circulars Referred : General Circular No. 14/2020 on 8th April, 2020 MANU/DCAF/0056/2020;General Circular No. 17/2020 on 13th April, 2020 MANU/DCAF/0059/2020

Citing Reference:
General Circular No. 14/2020 on 8th April, 2020 MANU/DCAF/0056/2020  Referred

General Circular No. 17/2020 on 13th April, 2020 MANU/DCAF/0059/2020  Referred

To

All Regional Directors,
All Registrar of Companies,
All Stakeholders.

Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 read with rules made thereunder on account of Covid-19-Extension of time

Sir/Madam,

This Ministry has issued General Circular No. 14/2020 on 8th April, 2020 and General Circular No. 17/2020 on 13th April, 2020 for providing clarifications on passing of ordinary and special resolutions by companies by holding extraordinary general meetings (EGMs) through video conferencing (VC) or other audio visual means (OAVM) or passing of certain items only through postal ballot without convening general meeting. The framework provided in the said Circulars allows companies to hold relevant EGMs or transact relevant business through postal ballots, as per procedure specified therein, upto 30th June, 2020 or till further orders, whichever is earlier. Requests have been received from the stakeholders for extending the period upto which the framework provided in the aforesaid Circulars may be utilized by the companies.

2. The matter has been examined and it has been decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with the framework provided in the aforesaid Circulars upto 30th September, 2020. All other requirements provided in the said Circulars remain unchanged.

3. This issues with the approval of the competent authority.

[F. No. 02/01/2020 CL-V]