Due to the Covid-19 pandemic, the ministry of corporate affairs reduce the company compliance burden on the corporate sector with partial opening up the industry, MCA has received several representations to allow companies to Extension of AGM (Annual General Meeting) date for the financial year. In this article, we discuss the extension of the AGM date and its key aspects.
Know About AGM
An annual general meeting (AGM) is a yearly meeting between the shareholders of a company and its board of directors. Usually, this is the only time that the directors and shareholders will meet throughout the year, so it is a chance for the directors to present the company’s annual report.

What happens at an annual general meeting?
During an AGM, a company’s performance is examined and its future strategy is discussed. This is a chance for shareholders to question the board, get answers for unsatisfactory performance, and challenge them in the direction of the company.

• An AGM is a time to praise good returns. • Votes can also be checked during an AGM, allowing shareholders to vote on company decisions, and fill any vacant positions on the board of directors. • Shareholders who prefer not to attend the meeting can normally vote by proxy, which can be made by post or by giving permission for another shareholder to vote on their behalf.

Extension of AGM Date
Due to the widespread of COVID-19 and social distancing measures and significant restrictions, MCA has received several requests to allow companies to extend of AGM date for the financial year ended. The topic was reviewed where MCA published the circular number dated 05.05.2020 concerning holding of AGM through video conferencing. Again MCA published General Circular no. 28/2020 dated 17th August 2020 has published a clarification on the extension of the AGM date for the financial year ended as at 31.03.2020. Know more about the extension of the AGM date in detail.

When embarking on getting a new website you may be wondering whether to use a website freelancer or website agency.

A website agency is likely to have an all bells and whistles website with lots of marketing spiel and a long list of projects they have worked on. They may also have worked with more high-profile businesses, with an array of positive testimonials from many happy clients. A quick look at the Meet the Team page will further portray the image of a professional set-up with a well put-together team to handle any requirement you may have. This may well lead to think that you will get a better service from a website agency and that the end product will be superior to that created by a freelance developer. In many cases this idolism may well be the reality and the decision to use a website agency will be perceived as being the right one.

Let’s not forget, however, that a website agency will most likely have a marketing team with a sizeable budget to promote their services. This allows them to create that large professional website showcasing their vast array of services and documenting their every step to success. It also gives them more of a leg up when it comes to attracting business from the larger more well-known companies. Furthermore, with having a team of web developers they can churn out more websites at greater speed, therefore creating an impressive portfolio, with an array of (hopefully) positive reviews to instil trust in their services.

What’s important to remember though is that all this comes at a cost. An agency will often have large overheads and these costs inevitably get pushed onto the customer in one way or another. This often means that you’ll pay more for a website when using an agency, with many being lured in by the glossy marketing and sales talk and the premise that you’ll be receiving a better service.

The reality is that although their may be a team of developers at the agency, your project will be most likely to assigned to just one developer. That developer will work set office hours and so contacting the developer outside of office hours could well be an issue. Some agencies may also insist on a support ticket being logged for any communication required and it could be days before that ticket is dealt with.

A freelance developer should not only be cheaper than an agency, but you may also find that you receive a better service as they aren’t confined to set office hours and are keener to provide a great service to establish a good reputation. It should also be easier to contact a freelance developer, with no switchboard to navigate or support ticketing system in place. When using a freelance developer, you are not just another product on the assembly line so you tend to be more valued as a client, even though you are likely to be paying less for the site.