Corporate Affairs Ministry allows virtual board meetings till September

Companies have to follow all requirements laid out under the rules for holding board meetings via video conferencing.

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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel