Board Meetings and AGM for Year 2021

Hello -

We are a small private limited company. 3 of the 4 Board Members of our company are either abroad or out of town. I am trying to finalize the board meeting plan for compliance purposes. Being a small company, we are required to hold two board meetings one in each half of the year and 1 AGM. I understand MCA has authorized scheduling of Board meetings by AV means until June 30, 2021

1) Can the board meeting via A/V means be done to also approve financial statements and board report of company before June 30, 2021?

2) If we do the AGM also before June 30, 2021, can that also be done via A/V means?

3) Do we know if MCA may further relax these dates?

Appreciate some immediate help as I am trying to finalize the best way to do meetings this year with all board members basically out of town. 

Regards

 

 

 

 

 

Replies (4)
Quick Summary
This discussion addresses compliance requirements for board meetings and AGMs for a private limited company in 2021, particularly concerning virtual meeting regulations. The user seeks clarification on whether board meetings, including financial statement approvals, can be conducted via audio-visual (AV) means until June 30, 2021, and if AGMs can also be held virtually. The responses indicate that board meetings can be held via AV means until June 30, 2021, and AGMs can be held virtually until December 31, 2021. There's also an inquiry about potential further extensions and the permanent allowance of AV meetings.

Hi, 

You may conduct Board meeting through VC/ AOVM on or before 30th June 2021 as MCA has extended the relaxation upto 30.June.2021. Thereafter , for compliance purpose BM can be conducted through VC/AOVM anytime for any other purpose

MCA has provided that AGM can be held through VC/OAVM till 31st Dec 2021

 

For approval of Financial statements its better to arrange AOVM OR VC .
THIS NOTIFICATION WAS THERE DURlng strict lockdown period.

Thank you for your responses. 

Is there any further extension for MCA guideline for Board Meeting to approve financial documents by June 30, 2021 via A/V Mode? 

Is there any further extension in MCA guidelines for AGM to be held via A/V Mode before Dec 31, 2021?

Thank you!

 

Hello -

 - Is there any extension from MCA to allow board meetings to approve financial documents beyond June 2021? or expected?

- Our financial documents are still not ready so we will need to do this after June 2021. Three out of 4 of our Board members are abroad. We are thinking to have two board members together to keep the quorum and remaining on video conference - is there any issue with doing the meeting this way after June 2021?

- I read MCA is considering allowing meetings by audiovisual mode permanently? Does anyone know if this is happening ?

 

Thank You!

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