COVID-19 MCA Update

MCA Update

Earlier, the following matters were not allowed to be dealt with in a meeting through Video Conferencing or Other Audio Visual Means

(i) the approval of the annual financial statements;
(ii) the approval of the Board’s report;
(iii) the approval of the prospectus;
(iv) the Audit Committee Meetings for consideration of financial statement including consolidated financial statement if any, to be approved by the board under sub-section (1) of section 134 of the Act; and
(v) the approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.

However, MCA has issued a notification dated June 15, 2021, w.r.t. amendment in Companies (Meetings of Board and its Powers) Rules, 2014.
With the said amendment, restriction on agenda items to be transacted only at physical meeting of Board of Directors are done away with.

Hence, the matters mentioned above can now be dealt with in a meeting through Video Conferencing or Other Audio Visual Means.