Appeal allowed; contempt order quashed after officials showed compliance, tendered apologies, non-compliance found inadvertent and coercive sanctions ...
A government ministry clarifies that companies may hold AGMs and EGMs by video conference or other audiovisual means, and may transact EGM items via postal ballot, until further orders, subject to the procedural requirements of earlier circulars; this permission does not extend statutory deadlines for holding AGMs under the Companies Act, 2013, and companies failing to meet prescribed timelines remain liable to legal action; all other conditions in the referenced circulars continue to apply.
A government ministry clarifies that companies may hold AGMs and EGMs by video conference or other audiovisual means, and may transact EGM items via postal ballot, until further orders, subject to the procedural requirements of earlier circulars; this permission does not extend statutory deadlines for holding AGMs under the Companies Act, 2013, and companies failing to meet prescribed timelines remain liable to legal action; all other conditions in the referenced circulars continue to apply.
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