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In light of the unprecedented times faced by the companies in India, the Ministry of Corporate Affairs (MCA) vide notification dated 19th March, 2020 has relaxed certain provisions with regard to the requirement of physical presence of the directors at the board meetings.
Now, all the board meetings to be held till 30th June, 2020 may be held through video conferencing or other audio visual means even for considering the following items, which otherwise require presence of the directors in person as per the provisions of the Companies Act, 2013:
The companies will however, have to comply with the requirements laid out under the Act for holding board meeting via video conferencing, such as:
MCA has further relaxed the requirement of having not more than 120 days of gap between two consecutive board meetings, by a period of 60 days till next two quarters i.e., till 30th September, 2020. The maximum gap therefore between two consecutive board meetings shall not be more than 180 days, till 30th September, 2020.