The Ministry of Corporate Affairs (MCA) issued the clarification on Gap between two board meetings under section 173 of the Companies Act, 2013.
In view of the difficulties arising due to the resurgence of COVID-19 and requests received from stakeholders, it has been decided that the requirement of holding meetings of the Board of the companies within the intervals provided in section 173 of the Companies Act, 2013 (120 days) stands extended by a period of 60 days for first two quarters of Financial Year 2021-22.
Accordingly, the gap between two consecutive meetings of the Board may extend to 180 days during the Quarter – April to June 2021 and Quarter-July to September 2021, instead of 120 days as required in the Companies Act, 2013.
Subscribe Taxscan Premium to view the Judgment
Support our journalism by subscribing to Taxscan AdFree. We welcome your comments at info@taxscan.in
