SECP vide Circular 6 of 2020 gives relaxation form certain provisions of Companies Act, 2017 due to CoVID -19

Amid CoVID – 19 pandemic the world is dealing with unprecedented circumstances, taking due consideration of the difficulties being faced by companies SECP vide Circular 6 dated March 22, 2020 (enclosed) has given relaxation from certain provisions of the Companies Act, 2017.

  • The companies can now hold their AGM for the year ended on December 31, 2019 on or before May 29, 2020
  • The companies, whose election of directors is due before or in the aforesaid AGM, may file impediment reports with the concerned registrar under section 158(2) of the Act citing the reasons for delay in holding the election of directors.
  • Accordingly, any statutory return which is required to be filed on or after 24th March, 2020 may be filed with the concerned registrar with the delay of 30 days of occurrence of any event without any additional filing fee as no penal action shall be taken for the late filing.