The Ministry of Corporate Affairs (MCA) notified the Companies (Meetings of Board and its Powers) Fourth Amendment Rules, 2020.
The government relaxed the requirement of holding Board meetings with physical presence of directors under section 173(2) read with rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval of the annual financial statements, Board’s report, etc.
The meeting may till 30th June, 2021 be held through video conferencing or other audio visual means by duly ensuring compliance of Rule 3 of the Companies (Meetings of Board and its Powers) Rules, 2014.
In the Companies (Meetings of Board and its Powers) Rules, 2014, in rule 4, in sub-rule (2), for the figures, letters and word 31 December 2020″, the figures, letters and word “30th June 2021” shall be substituted.
Subscribe Taxscan Premium to view the Judgment
