In light of the COVID-19 pandemic, the MCA had issued various circulars in 2020 and 2021 permitting companies to hold general meetings through video conferencing or other audio-visual means and laying down the operational procedures and safeguards in this regard.

 The MCA has, by a Circular dated May 05, 2022, allowed annual general meetings (‘AGM’) which are due to be held in the year 2022, to be conducted on or before December 31, 2022, through video conferencing or other audio-visual means, in accordance with the procedures specified in the circulars previously issued. However, the Circular clarifies that the above should not be construed as extension of time for holding AGMs under the Companies Act, and companies which have not adhered to the relevant timelines will remain subject to legal action under the Companies Act.

Further, the MCA has, by a separate Circular dated May 05, 2022, allowed companies additional time up to December 31, 2022, to conduct their extraordinary general meetings (‘EGM’) (for which prescribed date earlier was June 30, 2022) through video conferencing or other audio-visual means, or to transact items through postal ballot (in accordance with the framework provided in the MCA circulars issued earlier).