Online AGM for Housing Societies in Maharashtra
Planning To Conduct Online AGM Meeting for Your Society?
In the New Normal of COVID-19, social distancing is the key consideration for all public gathering. The sacrosanct Annual General Meeting is approaching and we are here to offer you Cisco Webex Video Conferencing Service & Virtual Meetings Application to conduct AGM Meeting for Housing Societies in Maharashtra. Are you Planning to conduct online AGM Meeting for your Society?
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The Pandemic COVID-19 has affected the whole world, especially the Corporate sector, by shutting down the businesses to maintain social distancing and thus resulting in cessation of almost all economic activities due to which difficulties have been faced by the organizations in their operations.
One of the major difficulties faced by the Company is in the conduct Video Conferencing Service & AGM meetings of the members or directors to discuss the matters needed to be dealt with.
Given the situation, the Ministry of Corporate Affairs (MCA) has provided relaxation in the conduct of AGM meetings vide issuance of its General Circulars for both Board Meetings and General Meetings.
This Discussion is confined to the relaxations provided by the MCA to its Stakeholders for conduct of Annual General Meeting (AGM) on account of the threat posed by COVID-19.
The MCA has issued two circulars for conduct of AGM by the Companies:
a) General Circular No.18/2020 dated 21st April , 2020
b) General Circular No. 20/2020 dated 05th May , 2020
Let’s discuss both:
(a) General Circular No.18/2020 dated 21st April , 2020 was issued by MCA to solve the issue of the Stakeholders with regard to difficulty in holding AGMs for the Companies whose financial year ended on 31st December, 2019 due to COVID-19 related social distancing norms and consequential restrictions linked thereto.
“It is noted that as per the Provisions of the Companies Act, 2013, the companies are allowed to hold AGM within a period of 6 months from the closure of financial year and not later than a period of 15 months from the date of last AGM.”
Thus, the Companies whose financial year ended on 31st December, 2019 are supposed to hold AGM till 30th June, 2020 (i.e, 6 months from the closure of financial year) but due to COVID-19 , it is impossible to do.
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