Power of the Company to restrict a director from taking part in a board meeting through a video conferencing.
Board meeting through video conferencing in lockdown. As we all are aware that in view of the COVID-19 outbreak in the different countries and as a safety measure India has moved to a mandatory lockdown in most states the Ministry of Corporate Affairs MCA has taken certain steps to liberalize compliance requirements for companies. Board meetings can be held through video conferencing or other audio visual means for all matters including the otherwise restricted matters mentioned in Rule 4 of the MBP Rules. Companies Act allows participation of directors in board meeting through video conferencing or other audio-visual means with exceptions to.
To be convened and conducted through video conferencing or other audio visual means. Which require an immediate consideration in the present time can be held through video-conferencing till the period ending on 31st December 2020 and shall not require mandatory physical quorum as per the MCA notification dated 28th Sepetemer. It also provides Format of Minutes of Board Meeting through Video Conferencing Format Of Notice for Board Meeting through Video Conferencing with Agenda and Standard Procedure for chairman to conduct Board Meeting through Video Conferencing.
It provides that a meeting on the restricted items specified in Rule 4 including certain items such as approval financials and boards report etc. The Ministry of Corporate Affairs MCA on Tuesday allowed companies to hold annual general meetings AGMs through video conferencing VC or. Along with CA 2013 following need to be checked and followed while convening and conduc9ng the Board Mee9ngs through video conferencing or other audio visual means.
Safety and privacy of the AV board meeting. The board meeting can be adjourned electronically irrespective of the fact that the original board meeting was held physically. The Companies Mee9ngs of Board and its powers Rules 2014.
Under section 1732 of Companies Act 2013 read with rule 3 of Companies Rules Meetings of board and its power 2014. Every company may hold meetings of board through either video conferencing or other audio-visual means that can record and recognize the participation of the directors and that can record and store the proceedings of the board meeting along with date and time. April 10 2020Amidst Pandemic COVID-19 and Nationwide Locked out.
At that time corporates were permitted to hold their board meetings through video conference and other audio visual means till June 30. Board Meeting Through Video Conference. What are the compliances connected with an AV board meeting.