Quick Summary
The Ministry of Corporate Affairs has issued theCompanies (Meetings of Board and its Powers) Amendment Rules, 2021 to further amend theCompanies (Meetings of Board and its Powers) Rules, 2014. Under the new Rules, Rule 4 has been omitted. Accordingly, this deletes the provision related to the restriction of conducting Board Meeting through Video Conferencing/Other Audio-Visual Means for selected agenda items. Read the official announcement by ICAI decoding the amendment, below: Corporate Laws
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FAQ :
These are new rules issued by the Ministry of Corporate Affairs that amend the Companies (Meetings of Board and its Powers) Rules, 2014, specifically concerning how board meetings can be conducted.
The amendment has omitted Rule 4 of the 2014 rules, which means there are no longer restrictions on conducting board meetings through video conferencing or other audio-visual means for any agenda items.
Previously, certain agenda items like the approval of annual financial statements and the Board's report, or the approval of a prospectus, were restricted from being conducted via video conferencing.
The changes have been introduced to ease the difficulties faced by companies in conducting board meetings, especially during the COVID-19 pandemic, and to provide more flexibility for future meetings.
The Ministry of Corporate Affairs issued the Companies (Meetings of Board and its Powers) Amendment Rules, 2021, via a notification dated June 15, 2021.
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