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ROLE & SCOPE OF CHARTERED ACCOUNTANT (CA) IN ONLINE AGM DURING COVID -19 ERA |
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ROLE & SCOPE OF CHARTERED ACCOUNTANT (CA) IN ONLINE AGM DURING COVID -19 ERA |
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The concept of Annual General Meeting (AGM) has been defined under Section 96 of the Companies Act, 2013. It can be considered as an annual gathering of Directors and Shareholders / members of the Company to discuss the future of the Company and also company’s overall performance is analyzed.
Not more than 15 (Annual – 12 months + 3 months extension from ROC) months shall elapsed between two AGM’s.
Registrar may, for any special reason, extend the time by a period not exceeding 3 months (additional) – {other than First AGM of the Company.} Kindly note that:
MCA CLARIFICATION ON HOLDING OF DIGITAL AGM THROUGH VC OR OAVM – NOT PHYSICAL Ministry of Corporate Affairs (MCA) vide General Circular No. 20 / 2020 dated 05th May, 2020 has allowed certain classes of companies to conduct their Annual General Meeting (AGM) through video conferencing (VC) or other audio-visual means (OAVM), during the calendar year 2020. There will be no place of meeting, since all the participants will be joining the meeting through VC or OAVM.
1. Receiving of Notice of AGM: The Notice and accompanying documents shall be sent at the e-mail addresses provided by Auditors to the company, if being sent by electronic means. 2. Online Presence during AGM: The Auditors, unless exempted by the company, shall, either by themselves or through their authorized representative, attend the General Meetings of the company and shall have the right to be heard at such Meetings on that part of the business which concerns them as Auditors. 3. Reply to Shareholders Query as statutory Auditor: Reply to any query that may be raised or provide any explanation that may be sought by the Members of the Company. 4. Made Auditor’s Report available for inspection 5. Reading of qualifications, observations or comments or other remarks on the financial transactions or matters which have any adverse effect on the functioning of the company, as mentioned in the report of the Auditors. 6. Appointment / Re-appointment of the Auditors: The Company is required appoint / re-appoint Statutory Auditors of the Company in the AGM of the Company. Kindly note that: The requirement to place the matter relating to appointment of auditors for ratification by Members at every AGM has been done away by the Companies (Amendment) Act, 2017 with effect from May 7, 2018.
And many other……………. Prepared by CS Lalit Rajput Contact details: +91 8802581290 !! [email protected] Website: http://enlightengovernance.blogspot.com/
By: CSLalit Rajput - July 13, 2020
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