The ministry received several stakeholder representations for extending the period of these provisions, the notification said.The ministry of corporate affairs (MCA) extended till September 30 the period during which companies are allowed to hold extraordinary general meetings (EGMs) through video conference or other audio visual means.
The extension also applied to provisions for passing of resolutions through postal ballots alone without the need for conducting an EGM.
On April 8, the MCA had relaxed the requirement of a physical meeting for EGMs under the Companies Act, in light of restrictions on travel due to Covid-19 and the lockdown, till June 30.
The ministry received several stakeholder representations for extending the period of these provisions, the notification said.
Since the April 8 notification, the nationwide lockdown was twice extended till May 31, following which varying degrees of lockdown measures and travel restrictions continued to remain in place at the district level during the ongoing Unlock 1.0.
For passing of business resolutions in such non-physical EGMs, the MCA laid down a detailed procedure wherein voting could be done via e-voting facility or registered email with the results being posted on the company website or filed with the Registrar of Companies.
Source: indiatimes.com
