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Covid 19 - Pandemic - Precautionary Measures by MCA

Covid 19 - Pandemic - Precautionary Measures by MCA

Considering the COVID-19 pandemic, the Ministry of corporate affairs has taken the precautionary steps and relaxed the companies to conduct the physical board meetings. As per the provisions of Section 173(2) read with Rule 4 of the Companies Act 2013,  the companies has to conduct the physical board meeting to approve the transact the following matters:

  1. Approval of annual financial statement;
  2. Approval of the Board report;
  3. Approval of the prospectus;
  4. Meeting of the Audit Committee for considering the financial statement including consolidated financial statement if any, to be approved by the board;
  5. Approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover

To transact the above matters which was exempted before for video conferencing meetings or other audiovisual means can now be permitted due to COVID-19.  Therefore, meetings till 30th June 2020 be held through video conferencing or other audiovisual means by duly ensuring compliance of rule 3 of the said rules.

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19 Mar

Prem Singh
Prem

Right guidance is all we need for a healthy business. Neusource is here to show you the right way which helps you to grow with your business. If you have this wish to build up your startups then neusource is the only choice for your business

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