Extension of time for holding AGM for the financial year ended on 31.03.2021
MCA has extended the time (Due Date) for holding of Annual general meeting (AGM) by two months from the original due date applicable for the financial year 2020-21. Accordingly, respective ROCs have been directed to issue extension Orders as soon as possible.
Therefore, a Company can now hold its AGM for the Financial Year ending 31st March, 2021 up to November 30, 2021.
As we know that, due to the COVID-19 situation, companies and other stakeholders were facing a tough time in holding AGM. Considering this hardship and representation from various stakeholders, MCA extends the due date for holding AGM. Also, issued an advisory to the respective ROC’s to come up with the extension order regarding this.
Due Date of Holding AGM
As per section 96(1) and the first proviso of the Companies Act 2013, the due date of holding of the AGM is earlier of the following:
a. 15 months from the date of the last AGM; or
b. 6 months from the end of the financial year
Thus, in most of the cases, due date of holding annual general meeting for the financial year 2020-21 ending March 31, 2021 was September 30, 20201 (180 days from the end of the fy 2020-21).