The virtual is slowly taking over the real world. The rampant COVID 19 boosted up the already growing virtual industries. As the government of various countries denied people’s movement on the streets, they start connecting through virtual modes. The annual general meeting of most of the companies took place virtually. You will learn more about Virtual AGM in the upcoming sections.
What is Virtual AGM?
According to the company act 2013, the companies must organize an annual general meeting. The meeting involves a healthy session between the shareholders and the Board of directors of the company. During COVID 19, people were restricted from moving, and the transport facilities were also hampered. Since the meeting is mandatory, Virtual AGM was considered as an alternative to the physical AGM. Unlike physical AGM, virtual AGM is organized digitally through telecommunication. The things a Virtual AGM holds are discussed in the next section.
Business discussed in a Virtual AGM
- Any amendment in the bylaws.
- The Board of directors is elected through voting.
- The audited financial report of the company is reviewed.
- The auditor is appointed.
- Address other business
These are some of the things that a Virtual AGM holds. It also signifies the importance of the event. There are many benefits of Virtual AGM. Some of them are mentioned in the next section.
Benefits of a Virtual AGM
- Organizing a Virtual AGM costs much less than a physical AGM.
- It reduces business hustle.
- It provides flexibility in time as there is no pressure to reserve a venue.
- People incapable of attending physical AGM can also join the virtual event.
These are some of the benefits a Virtual AGM provides. In comparison to physical AGM, virtual events save both time and money while yielding equal results.