CAIRR Update May 06, 2022

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CAIRR Update May 06, 2022

May 06, 2022
Summary of the circulars and notification issued by MCA on 05/05/2022
AGMs and EGMs under Companies Act, 2013 can be conducted through Video Conferencing till 31/12/2022
MCA has extended the relaxation to conduct Extra-Ordinary General Meetings (‘EGMs’) and Annual General Meeting (‘AGM’) due to be held in the year 2022, through VC/OAVM till 31st December, 2022 (as against the earlier deadline of 30/06/2022). MCA has clearly indicated that this circular doesn’t confer any extension of time to hold AGMs by the Companies under the Companies Act, 2013.
Requirement for Government Approval for invitation to specified persons for Private Placement under Companies Act, 2013
No offer or invitation of any securities for Private Placement shall be made to a body corporate incorporated in, or a national of, a country which shares a land border with India, unless such body corporate or the national, as the case may be, have obtained Government approval under the FEMA (Non-debt Instruments) Rules, 2019 and encloses the same with the private placement offer letter (PAS-4). A declaration to this effect has to be provided in PAS-4 and its format has been revised, henceforth. 

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