March 19, 2020
Summary of bulletin issued by MCA on 18/03/2020
1. Relaxation in holding Board Meeting with physical presence of Directors to enable people take necessary precautions against coronavirus
MCA has issued a bulletin on its website confirming the government’s in-principle decision to relax the requirement of holding Board Meeting’s with physical presence of Directors as mandated under Companies Act, 2013 until June 30, 2020.
The restricted matters under Rule 4 of Companies (Meetings of Board and its Powers) Rules, 2014 such as approval of the annual financial statements, Board’s report, etc. may now be held through video conferencing or other audio visual means within the framework provided by Rule 3.
This decision is in order to facilitate conduct of business while taking necessary precautions against coronavirus. Necessary changes in the rules are expected to be notified soon.