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Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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Oct 30, 2024

MCA Releases Clarification on Holding AGM/EGM through Video Conference or Other Audio-Visual Means

MCA has by way of a General Circular No. 09/2024, dated September 19, 2024 (‘General Circular’), released a clarification which permits companies whose annual general meetings (‘AGMs’) are due to be held in the years 2024 or 2025 to conduct their AGMs through video conference (‘VC’) or other audio video means (‘OAVM’) on or before September 30, 2025, in accordance with the requirements provided in the General Circular No. 20/2020 dated May 5, 2020. The clarification also prescribes that the General Circular is not an extension of the statutory time provided under the Act for holding of AGMs, and any non-compliance of the statutory timeline will be liable to legal action under the Act. In addition to AGMs, the clarification also permits companies to conduct their extraordinary general meetings (‘EGMs’) through VC or OAVM or transact items through postal ballot up to September 30, 2025.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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