Companies (Meetings of Board and its Powers) Amendment Rules, 2018

The Ministry of Corporate Affairs (MCA), vide notification dated May 07, 2018 has issued  the Companies (Meeting of Board and its Powers) Amendment Rules, 2018 further to amend the  Companies (Meeting of Board and its Powers) Rules, 2014.

Vide this notification:

·       Proviso to Rule 4 has been inserted which shall be read as,

“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.”

·       Rule 6 has been substituted which shall be read as,

“The Board of directors of every listed Public Company and the following classes of companies shall constitute an Audit Committee and a Nomination and Remuneration Committee of the Board.

·       Rule 13 has been substituted as,

“A resolution passed at a general meeting in terms of sub-section (3) of Section 186 to give any loan or guarantee or investment or providing any security or the acquisition under sub-section (2) of Section 186 shall specify the total amount up to which the Board of Directors are authorised to give such loan or guarantee, to provide such security or make such acquisition.”

[G.S.R.429(E)]

URL- http://egazette.nic.in/WriteReadData/2018/185191.pdf