EXTENSION OF TIME TO HOLD ANNUAL GENERAL MEETING

   



" Success usually comes to those who are too busy to be looking for it "

 

EXTENSION OF TIME TO HOLD ANNUAL GENERAL MEETING

 

Ministry of Corporate affairs (MCA) has given relaxation to companies to voluntarily seek extension of time period to hold AGM for F.Y. ending 31.03.2020 by filing Form GNL-1 to concerned ROC on or before 29/09/2020. The official notification regarding the same is here given below:

General Circular No. 28/2020

F. No. 2/4/2020-CL-V
Government of India
Ministry of Corporate Affairs

5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. R. P. Road, New Delhi
Dated: 17th August, 2020

To

All Regional Directors,

All Registrar of Companies, All Stakeholders.

Subject: Clarification on Extension of Annual General Meeting (AGM) for the financial year ended as at 31.03.2020- Companies Act, 2013-reg.

Sir/Madam,

Several representations have been received in the Ministry for providing relaxations in the provisions of Companies Act, 2013 (the Act) or rules made thereunder to allow companies to hold their annual general meeting (AGM) for the financial year ended on 31st March, 2020 beyond the statutory period provided in section 96 of the Act.

2. The matter has been examined in this Ministry and it is stated that this Ministry had inter-alia, clarified vide General Circular No. 20/2020, dated 05.05.2020 [G.C. 20/2020] regarding holding of AGM through video conferencing (VC) or other audio visual means (OAVM) for the calendar year 2020. In addition, the companies which are unable to hold their AGMs were advised to prefer applications for extension of AGM at a suitable point of time before the concerned Registrar of Companies under section 96 of the Act.

3. In view of the above, it is once again reiterated that the companies which are unable to hold their AGM for the financial year ended on 31.03.2020, despite availing the relaxations provided in the G.C. 20/2020 ought to file their applications in form No. GNL-1 for seeking extension of time in holding of AGM for the financial year ended on 31.03.2020 with the concerned Registrar of Companies on or before 29.09.2020.

4. The Registrars of Companies are hereby advised to consider all such applications (filed in Form No. GNL-1) liberally in view of the hardships faced by the stakeholders and to grant extension for the period as applied for (upto three months) in such applications.

5. This issues with the approval of the competent authority.

Yours faithfully,

(K S Narayanan)

 

 

Thanks & Regards :

TAXSHOP CONSULTANCY (OPC) PVT. LTD.

 

Reach us at - www.taxshop.in

Whatsapp - https://api.whatsapp.com/message/VG5JGWQB6ONHL1

Call - +91 97296-65710

Mail -taxshopconsultancy@gmail.com, taxshop@rediffmail.com

---------------------------------------

 

Comments

Post a Comment

Popular posts from this blog

FACELESS TAX ASSESSMENT SCHEME

Image
  " All our dreams can come true, if we have the courage to pursue them”     FACELESS TAX ASSESSMENT SCHEME   •      The name of the Assessment Scheme has been changed from E-assessment Scheme, 2019 to Faceless Assessment Scheme 2019 . •    ‘ Best Judgment Assessment’ under section 144 is also covered under the definition of‘assessment’ in the new Faceless Assessment Scheme 2019 in accordance with the amendments introduced by Finance Act, 2020. •       It has now been defined that the term ‘Rules’ used in the Faceless Assessment Scheme 2019 shall mean the Income Tax Rules, 1962. •       The new Faceless Assessment Scheme provides for seeking adjournment or extension of time limit for filing his response by the assessee. •       The Faceless Assessment Scheme shall now cover a penalty order for the filing of an appeal against the assessment order/penalty order. •       The Faceless Assessment Scheme 2019 has substituted the ‘Procedure for assessment’ under th
Read more

DELAYED GST PAYMENT: INTEREST TO BE CHARGED ON NET TAX LIABILITY FROM SEPTEMBER 1

Image
  "  Success is walking from failure to failure with no loss of enthusiasm”   DELAYED GST PAYMENT: INTEREST TO BE CHARGED ON NET TAX LIABILITY FROM SEPTEMBER 1   The GST Council in its 39th GST Council Meeting had notified that the interest will be chargeable on the net GST liability and that too with retrospective effect that is July 2017. However, as per the latest notification, 1/09/2020 has been notified as to the effective date for the same. This Notification has created confusion among the taxpayers.   Official Notification is as under: MINISTRY OF FINANCE (Department of Revenue) (Central Board of Indirect Taxes and Customs) NOTIFICATION New Delhi, the 25th August, 2020 No. 63/2020 - Central Tax "G.S.R. 527(E). - In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of Septem
Read more

Commencement of Business Certificate : INC-20A

Image
“The secret of getting ahead is getting started”   INC-20A: Commencement of Business Certificate   Applicability Companies registered on or after 02 November 2018 are required to file Declaration for Commencement of Business with Registrar of Companies. Due Date Within 180 Days of its Incorporation. Attachments Subscribers Proof of Payment for the value of shares (Bank Statement of Company). If  Bank Statement is not available then Valid Payment Proof Like NEFT/ IMPS Receipts. Certificate of Registration issued by the RBI (Only in case of Non-Banking Financial Companies)/from other regulators.   Consequences of non-filing/incorrect filing Additional Penalty as per slab defined in the Form Penalty for not obtaining Commencement of Business For Company: Maximum Rs 50000.00 For Every Officer in Default : Rs 1000 per day but maximum up to 100000.00 Consequences if Form is not filed within time A company canno
Read more