{"id":249861,"date":"2021-06-16T16:36:04","date_gmt":"2021-06-16T11:06:04","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=249861"},"modified":"2021-06-16T16:36:04","modified_gmt":"2021-06-16T11:06:04","slug":"companies-meetings-of-board-and-its-powers-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/16\/companies-meetings-of-board-and-its-powers-amendment-rules-2021\/","title":{"rendered":"Companies (Meetings of Board and its Powers) Amendment Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\"><span id=\"page1R_mcid224\" class=\"markedContent\"><span dir=\"ltr\">The Central Government<\/span><span dir=\"ltr\"> makes the <\/span><span dir=\"ltr\">Companies (Meetings of Board and its Powers) Amendment Rules, 2021 further to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/m6WJ10h5\">Companies (Meetings of Board and its Powers) Rules, 2014<\/a>. <\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span id=\"page1R_mcid227\" class=\"markedContent\"><span dir=\"ltr\">The amendment omits Rules 4 i<\/span><span dir=\"ltr\">n the Companies (Meetings of Board and its Powers) Rules, 2014.<br \/>\n<\/span><\/span><\/p>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">Rule 4 provides\u00a0 Matters not to be dealt with in a meeting through video conferencing or other audio visual means:<\/p>\n<p style=\"text-align: justify;\">(1)The following matters shall not be dealt with in any meeting held through video conferencing or other audio visual means.\u2014<\/p>\n<p class=\"p3\" style=\"padding-left: 40px; text-align: justify;\">(<i>i<\/i>) the approval of the annual financial statements;<\/p>\n<p class=\"p3\" style=\"padding-left: 40px; text-align: justify;\">(<i>ii<\/i>) the approval of the Board&#8217;s report;<\/p>\n<p class=\"p3\" style=\"padding-left: 40px; text-align: justify;\">(<i>iii<\/i>) the approval of the prospectus;<\/p>\n<p class=\"p3\" style=\"padding-left: 40px; text-align: justify;\">(<i>iv<\/i>) the Audit Committee Meetings for consideration of financial statement including consolidated financial statement, if any, to be approved by the Board under sub-section (1) of Section 134 of the Act]; and<\/p>\n<p class=\"p3\" style=\"padding-left: 40px; text-align: justify;\">(<i>v<\/i>) the approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover:<\/p>\n<p class=\"j2\" style=\"padding-left: 40px; text-align: justify;\">Provided that where there is quorum in a meeting through physical presence of directors, any other director may participate through video conferencing or other audio visual means.<\/p>\n<p class=\"j2\" style=\"text-align: justify;\">(2) For the period beginning from the commencement of the Companies (Meetings of Board and its Powers) Amendment Rules, 2020 and ending on the 30th June, 2021, the meetings on matters referred to in sub-rule (1) may be held through video conferencing or other audio visual means in accordance with Rule 3.]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Government makes the Companies (Meetings of Board and its Powers) Amendment Rules, 2021 further to amend the Companies (Meetings of <\/p>\n","protected":false},"author":8808,"featured_media":244192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-249861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Companies (Meetings of Board and its Powers) Amendment Rules, 2021 | SCC 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