The Ministry of Corporate Affairs (MCA) recently notified amendments to the Companies (Meetings of Board and its Powers) Rules, 2014.
As per the notification issued on Wednesday, a declaration by a Director who intends to participate in the meeting through electronic mode may intimate about such participation at the beginning of the calendar year and such declaration shall be valid for one year. It was clarified that such a declaration cannot debar him from participate in person in the meeting.
The Board of directors of every listed company and a company covered under rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 shall constitute an ‘Audit Committee’ and a ‘Nomination and Remuneration Committee of the Board’ “.
Read the full text of the Notification below.
