Taxontips
No Result
View All Result
Sunday, May 28, 2023
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Clarification by MCA on holding of annual general meeting (AGM) through video conferencing (VC)

ADMIN by ADMIN
May 7, 2020
in Business & Other News
1
MCA extends due date for uploading Annual return and Financial statement
116
SHARES
1.5k
VIEWS
image_pdfPDFimage_printPrint

MCA has said that they have received several representations to to allow companies to hold annual general meeting (AGM) in a manner similar to the one provided in General Circular No. 14/2020, dated 08.04.2020 (EGM Circular – l) and General Circular No. 17/2020 dated 13.04.2020 (EGM Circular – ll), which deal with conduct of extraordinary general meeting (EGM).

Now, by virtue of the General Circular No. 18/2020, dated 21.04.2020, the companies whose financial year ended on 31st December,2019, have been allowed to hold their AGM by 30th September,2020.

MCA has decided that the companies be allowed to conduct their AGM through video conferencing (VC) or other audio visual means (OAVM), during the calendar year 2020, subject to the fulfillment of the following requirements:

For companies who need to provide E- voting:

1. The company needs to follow the exact same mode as was mentioned in sub-para (i)-A of EGM Circurlar – ll. Only ordinary business shall be discussed in such meeting and other special business which are unavoidable. All statements can be sent through members and any other relevant person. The company also needs to make an advertisement in one vernacular and one english newspaper stating all the requisite details about such meeting.

2. If company is not able to distribute dividend to someone whose bank details are not available some can be done after normalization of postal service.

If a company is not required to provide E-voting:

1. They can conduct such meeting if they have email address of atleast half of its total members who:

in case of a Nidhi, hold shares of more than one thousand rupees in face value or more than one per cent. of the total paid-up share capital, whichever is less;

in case of other companies having share capital, who represent not less than seventy-five per cent. of such part of the paid-up share capital of the company as gives a right to vote at the meeting;

in case of companies not having share capital, who have the right to exercise not less than seventy-five per cent. of the total voting power exercisable at the meeting.

2. Those whose E-mail has not been registered steps shall be taken to register their email id.

3. ln such meetings, other than ordinary business, only those items of special business, which are considered to be unavoidable.

The companies which are not covered by the General Circular No. 18/2020, dated 21.04.2020 and are unable to conduct their AGM in accordance with the framework provided in this Circular are advised to prefer applications for extension of AGM at suitable point of time before the concerned Registrar of Companies under section 96
the Act.

To read full circular CLICK HERE.

 

This article is just for information purpose and are personal views of the author. It is always advisable to hire a professional for practical execution. If you need assistance you can ask a question to our expert and get the answer within an hour or post a comment about your views on the post and also subscribe to our newsletter for latest weekly updates.

image_pdfPDFimage_printPrint
Tags: MCA update
Previous Post

ICAI issues guidelines for Statutory Bank Audit during Covid-19

Next Post

ICAI offers free courses for CA professionals

Related Posts

RBI to end it’s Fiscal Year 2019-20 on 30.06.2020 | Fact check | Change in Accounting year for 2019-20
Business & Other News

Do you need to panic if you have Rs. 2000 note with you?

May 22, 2023
RBI to end it’s Fiscal Year 2019-20 on 30.06.2020 | Fact check | Change in Accounting year for 2019-20
Business & Other News

Rs. 2000 note removed from Circulation Will continue as Legal Tender

May 19, 2023
ICAI has announced a new MBA programme for Diploma in Management and Business Finance
Business & Other News

Deferment of second phase of Peer Review Mandate for CA Firms

May 15, 2023
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately
Business & Other News

Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA

May 12, 2023
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately
Business & Other News

CA, CS and CMA now under PMLA. KYC of clients required

May 10, 2023
Digital signature or Aadhar based e-sign mandatory for IEC after 13.07.2020
Business & Other News

Foreign Trade Policy 2023 announced by ministry of Commerce and Industry

April 20, 2023
Next Post
ICAI has announced a new MBA programme for Diploma in Management and Business Finance

ICAI offers free courses for CA professionals

Comments 1

  1. Pingback: No extension in holding AGM by MCA for financial year ending 31.03.2020 - Taxontips

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]
  • Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act
  • GUIDELINES FOR SPECIAL ALL-INDIA DRIVE UNDER GST
  • Government issues guidelines to calculate net winning for section 194BA of the Act [Read circular]
  • Do you need to panic if you have Rs. 2000 note with you?

Recent Comments

  • Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA - Taxontips on CA, CS and CMA now under PMLA. KYC of clients required
  • ADMIN on My Resolved Question
  • ADMIN on My First Question
  • ADMIN on My First Question
  • proxies shared on How to make correction in Income Tax Challan paid?

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

May 2023
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  
« Apr    

Recent Notification

Annual return optional for F.Y. 2017-18 and 2018-19 for Turnover below Rs. 2 crore

Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]

May 27, 2023
Amendment in provisions relating to taxability of income of trust by Finance Act, 2021

Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act

May 26, 2023

RSS Taxontips

  • Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]
  • Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act
  • GUIDELINES FOR SPECIAL ALL-INDIA DRIVE UNDER GST
  • Government issues guidelines to calculate net winning for section 194BA of the Act [Read circular]
  • Do you need to panic if you have Rs. 2000 note with you?
  • CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities
  • Rs. 2000 note removed from Circulation Will continue as Legal Tender
  • International payments through credit card will now attract 20% TCS under Income tax
  • Deferment of second phase of Peer Review Mandate for CA Firms
  • GST revenue collection for April 2023 highest ever at Rs 1.87 lakh crore

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!