In a gazette notification dated September 28, 2020 the Ministry of Corporate Affairs (MCA) has further extended the period during which integral board meetings can be held through video conferencing or other audio visual means instead of requiring physical presence of directors.
The MCA has issued the Companies (Meetings of Board and its Powers) Third Amendment Rules, 2020 (“Amendment Rules”) under which the period for permitting such virtual meetings has been extended till 31st December, 2020.
Background:
In an earlier notification, the MCA through the Companies (Meetings of Board and its Powers) Amendment Rules, 2020 had permitted certain Board Meetings which were otherwise prohibited from being held through Video Conferencing or other Audio Visual means to be held through video-conferencing or other audio-visual means in light of the COVID-19 pandemic till 30th June, 2020.
Subsequently, under the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2020, this relaxation was further extended till September 30, 2020.
The Amendment Rules are effective since September 28, 2020.
Source: Ministry of Corporate Affairs
