: GCCI seeks Dec 31 last date for holding AGM #finance #StockMarketNEWS #Business NT NETWORK Panaji With pandemic badly affecting the functioning of small and medium sized companies in the state,
GCCI seeks Dec 31 last date for holding AGM #finance #StockMarketNEWS #Business
NT NETWORK
Panaji
With pandemic badly affecting the functioning of small and medium sized companies in the state, the GCCI has requested for extension in the timeline until December 31, for holding annual general meeting (AGM) for the financial year 2020-21.
Presently the last date for companies to hold the AGM is on or before September 29.
In a memorandum submitted to the Finance Minister, Nirmala Sitharaman, GCCI sought the extension due to COVID-19 exigencies. According to the industry body, companies are facing a big challenge financially as well as through the loss of key support personnel. Many of the offices are not fully functional and are not working with their full staff strength. Further there is also the possibility of a third COVID wave in the near future.
The memorandum signed by Ralph de Sousa, president, GCCI, says that, several small companies have not completed their accounting and auditing formalities due to practical difficulties and therefore cannot convene the AGM within the deadline date.
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