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Much Needed Clarification notified by MCA on shareholders meeting(EGM)  during covid period by companies 

Meeting can be held via Video conferencing and other audit video  means  (OAVM)means subject to rules and procedure notified by MCA

Key Highlights  : –

  1. Recording should be maintained by companies in safe custody
  2.  In case of public companies, recording also to be uploaded on website after meeting.
  3. convenience of different time zones to be considered before scheduling  meeting for attendance
  4. Two way Audio Video telecommunications  must be ensured during the meeting for ease of participation
  5. Facility of joining to be opened 15 minutes before meeting and 15 meeting after the scheduled expiry meeting  time.
  6. Quorum counted for meeting attending via audio-video mode.
  7. No requirement of proxies appointed by members as physical attendance is dispensed with , however representative of members u/s 112 /113 can be appointed to attend the meeting on behalf of shareholders.
  8. At least one independent director attendance is required (if required to be appointed) and auditor or representative shall attend such meeting through VC or OAVM Read more http://www.mca.gov.in/Ministry/pdf/Circular14_08042020.pdf

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