Companies (Meetings of Board and its Powers) Amendment Rules, 2021 – (01-07-2021)

Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
1st July, 2021

ANNOUNCEMENT

Sub: Companies (Meetings of Board and its Powers) Amendment Rules, 2021

To ease the difficulties faced by Companies/Corporates to conduct Board meetings during the current outbreak of the Covid-19 pandemic and in future, the Ministry of Corporate Affairs (MCA) has, vide its Notification dated June 15, 2021, has issued the Companies (Meetings of Board and its Powers) Amendment Rules, 2021.

The said amendment has omitted Rule 4 of Companies (Meetings of Board and its Powers) Rules, 2014. Accordingly, this deletes the provision related to restriction of conducting Board Meeting through Video Conferencing/Other Audio-Visual Means for selected agenda items like approval of the annual financial statements, Board’s report, approval of the prospectus etc

Earlier MCA had granted relaxation from the above restriction in a phased manner for a limited time upto June 30, 2021. With the latest notification there is no restriction on any matter to be dealt with in a board meeting through Video Conferencing (VC) or Other Audio Visual Means (OAVM).

Circular is available at the link-
https://www.mca.gov.in/bin/dms/getdocument?mds=zwpAcIfQhKOgB8vwf%252FztbA%253D%253D&type=open

Members may note the above.

Sincerely Yours,

Chairman and Vice Chairman
Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India

Source: Companies (Meetings of Board and its Powers) Amendment Rules, 2021 – (01-07-2021)

Add a Comment

Your email address will not be published. Required fields are marked *