The Ministry of Corporate Affairs on 5th May 2022, has issued clarification on passing of Ordinary and Special resolutions by the companies under the Companies Act read with rules made thereunder on account of COVID-19 extension of timeline.
MCA has decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot up to 31st December 2021.
MCA in its earlier circular dated 8th April 2022, requested companies to take all decisions of urgent nature requiring the approval of the members, other than for items of ordinary business and items where any person has a right to be heard, through the mechanism of postal ballot/e-voting, without holding a general meeting which requires physical presence of members.
