MCA removes restrictions on matters to be dealt with in Board meeting through video conferencing or other audio visual means
MCA removes restrictions in Board meeting through video conferencing or other audio visual means
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 15th June, 2021
G.S.R. 409(E).—In exercise of the powers conferred by sections 173, 177, 178 and section 186, read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Meetings of Board and its Powers) Rules, 2014, namely:—
1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Amendment Rules, 2021.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Meetings of Board and its Powers) Rules, 2014, rule 4 shall be omitted.
[F.No.1/32/2013-CL-V-Part]
K.V.R. MURTY, Jt. Secy.
Note :The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 240(E), dated the 31stMarch, 2014 and subsequently amended as follows:-
1. G.S.R. 398 (E), dated the 12th June, 2014;
2. G.S.R. 590 (E), dated the 14th August, 2014;
2. G.S.R. 590 (E), dated the 14th August, 2014;
3. G.S.R. 206 (E), dated the 18th March, 2015;
4. G.S.R. 971(E), dated the 14th December, 2015;
5. G.S.R. 309 (E), dated the 30th March, 2017;
5. G.S.R. 309 (E), dated the 30th March, 2017;
6. G.S.R. 880 (E), dated the 13th July, 2017;
7. G.S.R. 429 (E), dated the 7th May, 2018;
8. G.S.R. 777 (E), dated the 11th October, 2019;
9.G.S.R. 857 (E), dated the 18th November, 2019;
7. G.S.R. 429 (E), dated the 7th May, 2018;
8. G.S.R. 777 (E), dated the 11th October, 2019;
9.G.S.R. 857 (E), dated the 18th November, 2019;
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ABCAUS Note:
Rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014, provides that following matters shall not to be dealt with in a meeting through video conferencing or other audio visual means:
(i) the approval of the annual financial statements;
(ii) the approval of the Board’s report;
(iii) the approval of the prospectus;
(iv)the Audit Committee Meetings for consideration of accounts; and
(v)the approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.
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