Companies can now conduct board meetings through video conference and other audio visual means till September 30 with the government extending the time period amidst the coronavirus pandemic.
The Corporate Affairs Ministry, which is implementing the Companies Act, has been relaxing various compliance requirements in recent months as the pandemic has disrupted economic activities as well as necessitated social distancing to prevent spreading of the infection.
In March, the ministry amended the Companies (Meetings of Board and its Powers) Rules. At that time, corporates were permitted to hold their board meetings through video conference and other audio visual means till June 30.
Now, that time period has been extended till September 30, according to a notification issued by the ministry on Tuesday. It also comes against the backdrop of rising number of coronavirus cases in the country.
Last month, the ministry also allowed companies to conduct annual general meetings this year through video conference and other audio-visual means.
Many companies and entities are already holding meetings through video conference.
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Business