SBC X ARP ADVISORY

• The Ministry of Corporate Affairs (“MCA”) vide its General Circular No. 09/2024 dated September 19, 2024 has granted an extension in timeline for holding Annual General Meeting (“AGM”) due in the year 2024 and 2025 through Video Conference (“VC”) or Other Audio Visual Means (“OAVM”) and passing of resolutions thereof
• Further, the above extension in timeline shall not be construed as an extension on the statutory timeline of holding an AGM and the companies not adhering to the statutory provisions shall be liable as per the provisions of the Act
• In addition to AGM, the MCA has also allowed companies to hold their Extra-ordinary General Meetings through VC or OAVM
• The extension is provided up to September 30, 2025
• Companies are required to adhere to the requirements provided in the earlier circulars issued in this regard