As per, Office Memorandum No. CL-II-03/252/2021-0/o DGCoA MCA Dated 23.09.2021 MCA has extended time for holding of Annual General Meeting (AGM) for a period of two Months beyond the due date by which companies are required to conduct their AGMs for the financial the year 2020-21 ended on 31st March 2021.
After the due date extension various questions has arisen in the mind of Stakeholders and some of such questions are as below: –
1. What time period for General Extension of AGM has been given by the ROC/ MCA?
Ans. ROC/ MCA has given extension of 2 months from the due date of AGM for holding of Annual General Meeting.
2. How one calculates the due date of the AGM?
Ans. As per section 96(1) and first proviso, the due date of holding of the AGM is earlier of the following:
●15 months from the date of the last AGM; or
●6 months from the end of the financial year
3. Whether Companies are required to file any form with the ROC for the extension of the AGM?
Ans. As per the general relaxation given by the ROC’s under the MCA guidance for the F.Y. 2020-21, there is no obligation to file any form with the ROC for the extension of the AGM.
4. If previously, a Company has already filed GNL-1 with ROC for extension of AGM and same has been rejected by ROC. What will be impact of Extension on such Company?
Ans. As per Circular/ notification of ROC/ MCA such companies can also enjoy extension of 2 months from the due date of AGM for holding of Annual General Meeting.
5. If previously, a Company has already filed GNL-1 with ROC for extension of AGM and same has been pending for approval by ROC. What will be impact of Extension on such Company?
Ans. As per Circular/ notification of ROC/ MCA such companies can also enjoy extension of 2 months from the due date of AGM for holding of Annual General Meeting without any approval of such forms.
6. If previously, a Company has already filed GNL-1 with ROC for extension of AGM and same has been approved for less than 2month. What will be impact of Extension on such Company?
Ans. As per Circular/ notification of ROC/ MCA such companies can also enjoy extension of 2 months from the due date of AGM for holding of Annual General Meeting without any impact of such order.
7. If previously, a Company has already filed GNL-1 with ROC for extension of AGM and same has been approved with extension of more than 3 months by Roc. What will be impact of Extension on such Company?
Ans. As per Circular/ notification of ROC/ MCA such companies can enjoy extension of the period mention in its order, irrespective of the fact of general extension.
8. Whether the Companies are required to pass any Board/ Shareholder resolution for the extension of the AGM?
Ans. Due to the general relaxation given by the ROC/ MCA, there is no obligation to pass any resolution for the extension of the AGM For the F.Y. 2020-21.
9. Whether all the Companies can hold their AGM for 2020-21 till November 30, 2021, due to the general exemption?
Ans. As per the exemption, ROC has given the extension for holding of the AGM by 2 months from the due date of the AGM.
The due date is required to be calculated as per question No. 2.
Therefore, it shall be wrong to say that the extension is given to all the Companies to hold their AGM till November 30, 2021.
10. Whether the financial statements of the Companies can be signed after September 30, 2021, due to the extension of the AGM?
Ans. As per Company Law, Companies are required to approve the financial statements in the AGM. If the Company holds the AGM on any date after September 30, 2021, then in such cases the Financial statements can also be signed on or after September 30, 2021.
11. After Extension what shall be the due date of filing of AOC-4 for the F.Y 2020-21, if the date of AGM is November 30, 2021?
Ans. After the extension the due date of filing AOC-4 is same as 30 days from the day of AGM. For Example, the due date for filing of AOC-4 shall be December 29, 2021 if the AGM is held on November 30, 2021.
12. After Extension what shall be the due date of filing MGT-7 for F.Y. 2020-21, if the date of AGM is November 30, 2021?
Ans. After the extension the due date of filing MGT-7 is same as 60 days from the day of AGM. For Example, the due date for filing of MGT-7 shall be January 29, 2022 if the AGM is held on November 30, 2021.
13. Whether General Extension of AGM will extend Due Date for OPC Annual Filling?
Ans. As per Section 122 of ![]()
Companies Act, 2013, OPC is not required to hold any Annual General Meeting.
Therefore, General Extension of holding of AGM shall not impact One Person Company for the purpose of Annual Filings.
14. What shall be the Due date of OPC AOC-4 & MGT-7A?
Ans. As AGM extension shall not impact OPC, as mentioned in question 1. The following shall be Due date of Annual Forms for OPC:
1. AOC-4: 27.09.2021
2. MGT-7A: 26.11.2021
15. Impact of Extension of AGM on filling of LLP-8?
Ans. Extension of AGM shall only be applicable on Companies not on LLP. Therefore, it will not
impact Annual Filling of LLP.
Therefore, Due Date of LLP-8 for F.Y. 2020-21 remain same as 30.10.2021.
16. What shall be the Impact of Extension of AGM on filling of FC-3 (Annual Account of Foreign Company)?
Ans. Due Date of FC-3 doesn’t have any connection with date of AGM. Therefore, extension of AGM shall not have any impact on due date of FC-3. It shall remain same as 30.10.2021.
