- MCA allows board meeting to be held via video conference on restricted matters for further 3 months:
In view of the current pandemic situation caused by COVID-19, MCA has further relaxed the requirement of holding Board meetings with physical presence of directors in respect of the following matters:
- approval of the annual financial statements;
- approval of the Board’s report;
- approval of the prospectus;
- approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.
Now, these businesses can be transacted in Board meetings held through video conferencing or other audio visual means by duly ensuring compliance of rule 3 of the Companies (Meetings of Board and its Powers) Rules, 2014 till 30th September, 2020. Earlier MCA had given relaxation till 30th June, 2020.
- Last date to enter details in Independent Director’s data bank further extended
MCA has further extended the last date to enter details in Independent Director’s data bank by existing independent directors up to 30th September, 2020. Previously it was 30th June, 2020.
- MCA allows extension for reserved names and filing of e-verification report in IEPF
In view of difficulty faces by stakeholders in lockdown, MCA has extended the following:
- The Registrar reserves the name for company under incorporation for a period of 20 days. In case of LLP, the Registrar reserves the name for new LLP incorporation/ change of name for a period of 90 days. Now, any name expiring on any day between 15th March, 2020 and 30th June, 2020 would be available for 20 days beyond 30th June, 2020.
- In case of change in name of company, the Registrar reserves the new name for 60 days. Now, any name expiring on any day between 15th March, 2020 and 30th June, 2020 would be available for 60 days beyond 30th June, 2020.
- SRNs whose last date of resubmission (RSUB) falls between 15th March, 2020 and 30th June, 2020, additional 15 days beyond 30th June, 2020 would be allowed. However, for SRNs already marked under NTBR, extension would be provided on case to case basis.
- In respect of SRNs whose last date of filing e-Verification Report in Form IEPF-5 (for both Normal as well as Resubmission filing) falls between 15th March 2020 and 30th June 2020, forms would be allowed to be filed till 30th Sep 2020. However, for SRNs ready marked ‘Pending for Rejection u/r 7(3)’ or ‘Pending for Rejection u/r 7(7)’, extension would be provided on case to case basis.
