The Ministry of Corporate Affairs (MCA) has announced an extension for virtual annual general meetings (AGMs) until September 2023. This decision is aimed at providing relief for Indian companies in light of the ongoing pandemic.
Initially, virtual AGMs were permitted until September 2021. The MCA has clarified that companies could also conduct hybrid AGMs, which involve a combination of virtual and physical attendance, as long as they complied with the guidelines provided.
This move is seen as positive, as it provides a measure of stability for Indian companies during uncertain times. The extension of virtual AGMs also helps companies save time and resources, as well as increase efficiency, as they no longer have to worry about the logistics of holding physical meetings.
