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In a notification issued today, the Ministry of Corporate Affairs (MCA) has relaxed the rule of physical Board Meetings till June 30.
The MCA notification states,
"Considering the need to take precautionary steps to overcome the outbreak of Covid-19, the Government has in-principle decided to relax the requirement of holding Board meetings with physical presence of directors under section 173 (2) r/w rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval of the annual financial statements, Board’s report, etc."
Such meetings may till 30th June, 2020 be held through video conferencing or other audio visual means by duly ensuring compliance of rule 3 of the said rules.
The necessary changes in the rules in this regard are expected to be notified soon.