The Ministry of Corporate Affairs vide Notification dated 19th March 2020 has issued the Companies (Meetings of Board and its Powers) Amendment Rules, 2020. The amendment provides temporary relaxation to the requirement of physical presence of directors in board meetings considering the need to take precautionary steps to overcome the outbreak of the coronavirus (Covid-19).
The relaxation is granted to Board meetings for approval of the annual financial statements, Board’s report, etc. Such meetings may be held till 30th June, 2020 through video conferencing or other audio visual means.
The Amendment shall be effective immediately.
Click here to read the Amendment.
