The Ministry of Corporate Affairs (MCA) notified the Companies (Meetings of Board and its Powers) Fourth Amendment Rules, 2020. The government relaxed the requirement of holding Board meetings with the physical presence of directors under section 173(2) read with rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval of the annual financial statements, Board’s report, etc. The meeting maybe held through video conferencing or other audio-visual means by duly ensuring compliance of Rule 3 of the Companies (Meetings of Board and its Powers) Rules, 2014 till 30th June, 2021.
Effective date: Dec. 31, 2020
Source: Companies (meetings of Board and its powers) fourth amendment rules, 2020