MCA Update: AGMs And EGMs Can Be Held Virtually

On 19 September 2024, the Ministry of Corporate Affairs (“MCA”) issued a significant circular (“Circular”) that extends the provision for companies to conduct their Annual General Meetings (“AGMs”) and Extraordinary General Meetings (“EGMs”) via video conference (“VC”) or other audio-visual means (“OAVM”) until 30 September 2025. This decision is a continuation of previous measures initiated during the COVID-19 pandemic, aimed at facilitating corporate governance while embracing digital transformation.

Background

The option to hold AGMs and EGMs virtually was first introduced in April 2020 as a temporary measure due to the pandemic's restrictions on physical gatherings. The initial circular allowed companies to conduct meetings through VC until 30 June 2020. However, recognizing the benefits of this approach, the MCA has extended these provisions multiple times over the years. The latest extension reflects an ongoing commitment to leveraging technology in