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

Form 26 to replace Form 3CD of tax audit report by a CA from Tax Year 2026-27

Form 26 to replace Form 3CD of tax audit report from Tax Year 2026-27 Draft Form 26 has been issued…

18 hours ago
  • Income Tax

When no addition is made on the basis of reasons recorded, reopening is bad in law

When AO do not make any addition on the basis of the reasons on which the reopening was done, the…

20 hours ago
  • Insurance

No separate compensation for loss of love and affection under MV Act – SC

Under MV Act separate compensation can not be granted under the head “loss of love and affection” – Supreme Court…

2 days ago
  • Income Tax

Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G

Trust accredited by National Institute of Open Schooling eligible for registration u/s.12AB and u/s 80G of the Act. In a…

2 days ago
  • Income Tax

Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court

Delay in furnishing Form 10B – Period between 15.03.2020 till 20.08.2022 to be excluded as per decision of Hon'ble Supreme…

4 days ago
  • Income Tax

Section 271AAB does not grant any immunity from penalty in terms of section 273B

Section 271AAB does not grant any immunity from penalty even if the assessee was able to show some reasonable cause…

4 days ago