Changes allows directors to attend meeting via audio-visual means even for approval of financial statements and the board’s report
“A director attending a meeting via video conferencing or other audio-visual means is to be counted for the purpose of quorum”
The Corporate Affairs Ministry has issued a notification to allow companies to hold such board meetings through video conferencing till June 30. Companies will have to follow all requirements laid out under rules for holding board meetings via video conferencing such as recording of these proceedings, ensuring availability of proper equipment among others.
Considering the current situation, allowing video conferencing on restricted matters will certainly help in holding board meetings. MCA should also consider relaxing the requirement of a gap of not more than 120 days between two board meetings for some time