April 09, 2020
Summary of the General Circular issued by MCA on 08/04/2020
1. MCA issues clarification on passing of ordinary and special resolutions by Companies under the Companies Act, 2013 and its Rules, due to CoVID-19 pandemic.
In line with the various relaxations provided by the MCA to combat Corona Virus and ensure social distancing, MCA has issued an advisory which needs to be followed by companies holding an EGM on or before June 30, 2020 for passing of ordinary and special resolutions.
The key highlights of the advisory are:
- EGM to be held via video conferencing or other audio visual means for which no provision was earlier facilitated under Companies Act, 2013
- Recorded transcripts of the proceedings shall be maintained by all companies and for public companies, same to be made available on its website
- Facility of two way conferencing to be enabled to ensure members and participants do not face any challenges in posing questions
- Facility to permit participation of at least 1000 members
- Resolutions passed under this mechanism shall be filed with the RoC within 60 days from the date of such meeting and compliance towards these advisories must be indicated in such filings
The details of the procedure are integrated in our free-to-use website ca2013.com for your ready reference.
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