The Institute of Cost Accountants of India (ICMAI) has introduced relaxations to the Cost and Works Accountants Regulations, 1959, for Regional Councils in 2021. These changes are a response to the ongoing COVID-19 pandemic. Key adjustments include extending the deadline for the Annual General Meeting (AGM) to 31st July 2021 and allowing AGMs and committee meetings to be conducted via video conferencing or other electronic means.
Ref. No. G/128/06/2021 Kolkata, the 2nd July, 2021
Relaxations in the Cost and Works Accountants Regulations, 1959 on matters relating to RegionalCouncils of the Institute for the year 2021 on account of acute pandemic situation arising out of outbreak of COVID-19
The Council of the Institute at its 331st Meeting held on 30th 31st May, 2021 decided to recommend to the Central Government for giving certain relaxations in the Cost and Works Accountants Regulations, 1959 to the Regional Coun
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FAQ :
ICMAI has provided these relaxations to Regional Councils for the year 2021 due to the acute pandemic situation arising out of the outbreak of COVID-19.
The due date for holding the Annual General Meeting of the Regional Council for the year 2021 has been extended to 31st July 2021. It was originally due by 30th June 2021.
Yes, for the year 2021, Annual General Meetings and meetings of the Committees of the Regional Councils can be conducted through video conferencing or any other electronic mode.
Notices for virtual meetings can be issued via email or other electronic modes, and the requisite quorum must be present through video conferencing or another electronic mode.
The relaxations shall come into force with immediate effect from 2nd July 2021.