Around 12 lakh companies get three-month extension for AGM

Representative image/Credit: Pixabay Image

In a big relief to around 12 lakhs companies, the Centre Tuesday extended the timeline for holding Annual General Meeting by three months till December 31 in view of Covid-19.

The Ministry of Corporate Affairs issued directions to the registrar of companies to issue orders without the filing of formal application and payment of fee. Even applications already filed but not approved or rejected are also covered for this relief.

The deadline was to end on September 30.

"MCA is extending this timeline due to Covid-19 and Meeting the demand from various associations for extending time to hold AGM. This is for the first time that such relief generally is given to all companies," the ministry said in a statement.