Ministry has issued The Companies Meetings of Board and its Powers Amendment Rules 2021 passed on 15th June 2021.

Video conferencing board meeting. Todays video conference meetings are less about the video quality and cyber glitches of yesterday and more about the ability of the meeting chair or facilitator to use virtual meeting tools effectively. Is sitting fees payable to a director who participates in a meeting through video conferencing. Dated 15062021 has notified the Companies Meetings of Board and its Powers Amendment Rules 2021 which seeks to amend the Companies Meetings of Board and its Powers Rules 2014 wherein Rule 4 providing for restriction on matters not to be dealt with in a meeting through video conferencing as specified in Rule 4 of the Act has been omitted.

A Company can hold Board Meeting through video conferencing for any matter includes approval of financial statement on or after 15 th June 2021. Updated Video Conferencing Norms For Board Meetings. Participation in board meetings through video conferencing saves time and cost and allows one to convert the energy used for distant travels for meeting into a more productive venture.

To ensure availability of proper video conferencing or other audio visual equipment or facilities for providing transmission of the communications for effective participation of the directors and other authorized participants at the Board meeting. Financial Statement of 2020-21 and onwards can be approve in Board Meeting through video conferencing. However provided there are no legal or logistical barriers they are a great substitute in the present environment.

The Icon 700. The Government has for the first time used through Sections 173 and 174 the words Board Meeting through Video Conferencing and other audio visual means. These Rules came into effect on 15th June 2021.

ACS Divesh Goyal. Track deal history stock information cap tables investors executives and more. Section 1732 of Companies Act 2013 The Act read with Rule 3 of the Companies Meetings of Board and its Powers Rules 2014 The Rules The participation of directors in a meeting of the Board may be either in person or through video conferencing or other audio-visual means as may be prescribed which are capable of recording and recognizing the participation of the directors.

Clarification on Board Meeting through Video Conferencing. The process for conducting Board meetings through video conferencing is prescribed under Rule 3 of the Companies Meetings of Board and its Powers Rules 2014 Rules. A Board Meeting attended by any Director whether in person or through video conferencing or other audio visual means shall be sufficient attendance for the purpose of section 1671b of the Act.