CII requests govt to allow passing resolutions without board meeting

The Confederation of Indian Industry (CII) met Corporate Affairs Secretary Injeti Srinivas on Friday and asked for some relaxations.

It requested that firms be allowed to pass circulars, resolutions without the requirement of conducting a board meeting up to June 30.

Currently, board meetings are required for matters such as deciding on buy-back of securities, investing funds of the company, borrow monies, taking over a company or acquiring a substantial stake in another firm.

The chamber also called for relaxing the requirement of holding board meeting in physical presence for appointment of directors and independent directors in