Due Date of AGM Extended by 2 Months


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The Ministry has released an Office Memorandum on 23rd September, 2021 regarding the extension of due date of AGM by 2 months. Accordingly, the MCA has advised the ROCs to release order for their respective jurisdictions, providing for extension of due date of AGM by 2 months beyond the date by which companies are required to hold their AGM for the F.Y. 2020-21.

Points of consideration:

1. The due date is not extended up to 30th November, 2021 for all Companies. It is only for those Companies whose due date of conducting AGM is 30th September, 2021.

2. The period of 2 months is to be calculated keeping in view the provisions of Section 96(1), more specifically, the provision of maximum gap of 15 months between 2 AGMs.

3. No such extension is provided for first AGMs.

4. There’s no need of filing form GNL-1 to seek extension of due date of AGM.

5. This extension also covers:

a. Pending applications filed in form GNL-1, which are yet to be approved.

b. Rejected applications filed in form GNL-1.

c. Approved applications filed in form GNL-1, where the extension was approved for a period of less than 2 months.

6. This extension shall not apply to those Companies which have already received extension of more than 2 months.

Illustration:

CompanyDue dateExtended due date
A30th September, 2130th November, 21
B25th September, 2125th November, 21
C21st September, 2121st November, 21


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