Covid-19: MCA eases attendance rules for board meetings till June 30

Relaxation allows directors to attend via audio-visual means even for approval of financial statements and the board's report

Taking precautionary steps in the light of the Corona pandemic, the government has relaxed the requirement of holding board meetings with physical presence of directors for activities including approval of financial statements and the board’s report.  

The Corporate Affairs Ministry has issued a notification to allow companies to hold such board meetings through video conferencing till June 30. Companies will have to follow all requirements laid out under rules for holding board meetings via video conferencing such as recording of these proceedings, ensuring availability of proper equipment among others. 

Existing company rules do not allow certain matters to be dealt