‘Companies granted 2 months extension to conduct AGMs’

‘Companies granted 2 months extension to conduct AGMs’
This extension of time is given to all the companies within the territorial jurisdiction of J&K and Ladakh, reads the order signed by the Registrar of Companies Jammu office dated 23 Sep, 2021.Pxfuel [Creative Commons]

Srinagar: In exercise of the power vested under relevant Sections of Companies Act, 2013, the Office of the Registrar of Companies (ROC) for UTs of J&K and Ladakh has extended the time for companies to hold the AGM (Annual General Meeting) by a period of 2 months from the due date for the financial year that ended on 31 March, 2021.

This extension of time is given to all the companies within the territorial jurisdiction of J&K and Ladakh, reads the order signed by the Registrar of Companies Jammu office dated 23 Sep, 2021.

Companies Act, 2013 provides that the Registrar may, for any special reason, extend the time within which Annual General Meeting, other than the first AGM, shall be held, by a period not exceeding three months.

Therefore this extension upto 2 months has been given based on the representations received from the companies, Industry bodies and Professional Institutes pointing out the difficulties to hold their AGMs due to COVID-19 pandemic.

The order has further been circulated widely by the Incharge Srinagar Office, Haamid Bukhari to all the stakeholders including the professional institutions.

This has been the second consecutive year when the extension has been given to companies for holding their AGMs. Such an extension was also given last year in Sep 2020 for a period upto 3 months.

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