Company Law Update: Restricted items can be dealt by BOD, through Board Meeting via video-conferencing

✓ Relevant Rule: Rule 4 of The Companies (Meeting of Board and its Powers) Rules, 2014

✓ Amendment: Companies (Meetings of Board and it's Power) Amendment Rules, 2021 - Matters Not to be Dealt With in a Meeting Through Video Conferencing or Other Audio Visual Means - Omitted

✓ Impact: Restriction on agenda items to be transacted only at physical meeting of Board of Directors are done away with. Hence, Board may consider any item for approval virtually through video-conferencing meeting.

✓ Now, following resolution can be passed through Video Conference mode:

(i) the approval of the Annual Financial Statements;

(ii) the approval of the Board’s Report;

(iii) the approval of the Prospectus;

(iv) 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

(v) the approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.