Companies can now hold their FY20 AGM by Dec 31

In a major relief for corporates, the Ministry of Corporate Affairs (MCA) has extended the deadline to hold Annual General Meeting (AGM) for the financial year 2019-20 till December 31 in the wake of the pandemic.

The existing deadline was scheduled to end on September 30.

According to an MCA statement, the move would provide relief to around 12 lakh companies.

“MCA issued directions to RoCs (Registrar of Companies) to issue orders without filing of formal application and payment of fee. Even applications already filed but not approved or rejected are also covered for this relief,” it said.

The statement noted that the MCA is extending this timeline due to Covid-19 and to meet the demand from various associations for extending time to hold the AGM.

“This is for the first time that such relief generally is given to all companies,” it said.