An attempt is being made to list out on the provisions relating to the conduct of the Board and General Meeting, and relaxations by the Ministry of Corporate Affairs relating thereto.
BOARD MEETINGS:
All are aware that Section 173 of the Companies Act, 2013, prescribes, the manner in which the meetings of the Board of Directors are to be conducted, including through Video Conferencing or other Audio-Visual means.
The rules list out that the following matters/decisions of the Board, cannot be dealt through Video conference means, and can accordingly be passed by a meeting of the Board of Directors:
- Approval of the Annual Financial Statements;
- Approval of the Board’s Report;
- Approval of the Prospectus;
- 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
- Approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.
Read more: Conduct Of Board Meeting And General Meetings Amidst Covid-19