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The Corporate Affairs Ministry (MCA) has allowed companies to hold their Annual General Meeting (AGM) through video conference or other audio visual means during the calendar year 2020.
The move comes on account of the need for continuous adherence to social distancing norms and restrictions placed on movement of persons due to Covid-19 induced lockdown. The measure has been taken to facilitate companies conduct their ordinary and special business through AGMs conducted by leveraging the Digital India platforms.
The framework provided in the earlier circulars for holding of extraordinary general meeting (EGM) would be applicable mutatismutandis for conduct of AGMs during 2020, based on the classification of companies which are required to: (i) provide the facility of e-voting or have opted for the same, and (ii) those companies which are not required to provide such a facility, an official release said.
Owing to the difficulties in sending physical copies of the financial statements, the circular allows the companies to send the financial statements, along with board’s reports, auditor’s reports and other documents required to be attached therewith, only through e-mail.
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