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India – Due date for virtual Annual General Meetings extended
Companies whose Annual General Meetings (AGM) are due in the financial year 2024 or 2025 are now permitted to conduct their AGMs through Video Conferencing or Other Audio-Visual Means, until the 30th of September 2025.
This follows Circular no. 9/2024, issued by India’s Ministry of Corporate Affairs on the 19th of September 2024.
The circular also confirms that companies will be allowed to transact items through postal ballot up to the 30th of September 2025.
The circular further clarifies that this should not be construed as conferring any extension of statutory timelines for holding AGMs.
The risk of non-compliance
Companies which have not adhered to the relevant statutory timelines, shall be liable for legal action under the appropriate provisions of the Companies Act, 2013.
