Companies Act

No restrictions on matters to be dealt in Board meeting through VC or other AV means

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;
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;
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;

Download Notification Click Here >>

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.

Download Notification Click Here >>

 
Share
Leave a Comment

Recent Posts

  • Income Tax

Addition based on letter of District Magistrate not recovered during search deleted

Addition deleted as it was made on the basis of letter of District Magistrate which not recovered during the search…

5 hours ago
  • Income Tax

CBDT clarification on threshold for TDS on interest by banks under Income Tax Act 2025

Banks not required to deduct TDS under Income Tax Act 2025 on interest income below threshold limit - CBDT clarification …

6 hours ago
  • Income Tax

Allegations of delay in TDS deposit & person responsible must be tested at trial

Allegations of delay in TDS deposit, role of person responsible are disputed factual matters which must be tested at trial…

17 hours ago
  • Income Tax

Generation & allotment of UIN in Form No. 121 declaration for payment without TDS

Procedure, formats and standards for generation and allotment of Unique Identification Number (UIN) in respect of Form No. 121 declaration…

21 hours ago
  • Income Tax

Penalty u/s 270A deleted as AO failed to mention the relevant clause the case fall

Penalty u/s 270A deleted as AO failed to mention under which clause the case of the assessee fall. In a…

2 days ago
  • Income Tax

Income by deploying ex-servicemen as security guards not business activity

Income of section 25 company by deploying ex-servicemen as security guards was not business activity. In a recent judgment, Kerala…

3 days ago