EXTENSION OF HOLDING IN AGM
In the terms of power under the third proviso to sub section (1) of section 96 of the Act,
The ROC of Various States have extended the time to hold the AGM, other than the first AGM, for the financial year ended on 31.03.2020 for companies within the jurisdiction of their office,
which are unable to hold their AGM for such period within the due date of holding the AGM for a period of three months from the due date by which the AGM ought to have been held in accordance with the provisions of sub-section (I) In ssection 96 of the Act, without requiring the companies to file applications for seeking such extension by filing the prescribed Form No. GNL-1.
Explanation: It is hereby clarified that the extension granted under this Order shall also cover the
(i) pending applications filed in Form No. GNL-1 for the extension of AGM for the financial year ended on 31.03.2020, which are yet to he approved.
(ii) Applications filed in Form No. GNL-1 for the extension of AGM for the financial year ended on 31.03.2020. which were rejected.
where the approval for extension of AGM upto 3 months from the due date of the AGM shall be deemed to have been granted by ROC.
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I am associate member of institute of Chartered Accountant of India since 2017 having overall experience of 4 years in the field of Statutory Audits and Income tax Compliances.