Clarification On Passing Of Shareholder Resolutions During Covid-19 – Conduct Extra Ordinary General Meeting (Egm) Of Shareholders Remotely
Amidst the COVID-19, Ministry of Corporate Affairs (MCA) vide its General Circular No.14/2020 dated 08th April 2020 has, with respect to matters requiring approval of shareholders, requested the Companies, to obtain shareholders’ approval through postal ballot/e-voting till 30th June 2020, in order to avoid holding a general meeting which requires physical presence of the shareholders at a common venue.
If holding of an EGM is considered unavoidable, then the said EGM has to be conducted through video conferencing (VC) or other audio-visual means (OAVM) (“Remote EGM”), to obtain approval from the shareholders on various urgent matters.
This video conferencing (VC) Facility is available only to the EGM’s conducted between 8th April 2020 and 30th June 2020.
PROCESS FOR CONDUCTING REMOTE EGM: In addition to compliances under the provisions of the Act, the following procedures should also be followed by the companies when conducting the EGM through this VC Facility.
Contributing Advisors
