Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
The issues are examined considering the overall situation of the present situation. As a result, the (MCA) Ministry of Corporate Affairs has issued the Circular No.14/ 2020 dated 8th Apr 2020 that provides the clarifications in relation to the passing of Ordinary Resolution and Special Resolution by companies under the Companies Act, 2013 rules. The Ministry has come up with the relaxations for the provisions under the Companies Act 2013 to allow respective companies to pass ordinary and special resolutions regarding the urgent matters in lieu of the difficulties faced by the stakeholders due to amid COVID-19 outbreak.
With the circular, MCA has encouraged all the companies to take necessary decisions of urgent nature which require the approval of members, other than items of ordinary business. The companies required the mechanism of e-voting in accordance with the provisions of the Companies Act, 2013 without holding a general meeting, as it required a physical presence of members at a common venue. The circular also provides the procedure which shall be followed up by the companies in case holding of an extraordinary general meeting (EGM) which in the case is unavoidable. It shall be further noted that such a procedure needs to be adopted by the company for conducting an extraordinary general meeting (EGM) on or before 30th June 2020.
Also, Read: Impact on Start-ups Business amidst Coronavirus (COVID- 19).
Table of Contents
It is important to note further that the companies have to ensure all other compliances associated with the provisions relating to general meetings viz. making disclosures, authorization for voting by bodies corporate or inspection of related documents by members etc. as mentioned under the Companies Act, 2013 and the Articles of Associations of the company are made via electronic mode.
Moreover, the current nationwide lockdown scenario and threat posed by COVID-19, the compliance relaxations provided by the circular will definitely ease the difficulties faced by the companies for the passing of an ordinary and special resolution of urgent nature.
Read, More: SEBI’s Relaxation to Listed Companies for filing Financials amid Covid-19 and other measures taken by Regulators.
The Securities and Exchange Board of India has recently, on 21st March 2024, vide circular no S...
Financial management is critical in the dynamic world of construction, where projects differ in...
SEBI issued guidelines regarding the utilization of e-KYC Aadhar Authentication Services in the...
An audit of a charitable trust can be both Voluntary or Compulsory and compulsory, depending on...
The Securities and Exchange Board of India (SEBI) issued a circular to amend the requirements f...
Are you human?: 2 + 8 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
MCA has extended the deadline for filing Cost Audit Report with General Circular No. 15/2021, dated September 27th,...
07 Oct, 2021
The Ministry of Corporate Affairs issued a notification regarding the Producer Companies Rules 2021. The rules will...
15 Sep, 2021
Chat on Whatsapp
Hey I'm Suman. Let's Talk!