Corporate Affairs Ministry allows virtual board meetings till September

The Ministry of Corporate Affairs has allowed companies to hold board meetings through video conference or other audio-visual means till September 30.

The relaxation comes amid the coronavirus pandemic. Initially, the ministry had allowed companies to hold board meetings through video conferences till June 30.

Referring to the extension of the relaxation period, the gazette notification said: "In the Companies (Meetings of Board and its Powers) Rules, 2014, in rule 4 in sub-rule (2), for the figures, letters and word '30th June, 2020', the figures, letters and word '30th September, 2020' shall be substituted."

Under the Centre's guidelines post the relaxations, companies have to follow all requirements laid out under the rules for holding board meetings via video conferencing such as recording of these proceedings, ensuring availability of proper equipment among others.

These are among a slew of measures the government and regulatory bodies have taken to provide relief to the business fraternity and market participants in the wake of the pandemic.