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The rapid spread of the Covid-19 infection has prompted the Centre to allow companies to hold their board meetings through video conferencing or other audio-visual means, till June 30.
It has, in principle, decided to relax the current stipulation that board meetings be held with the physical presence of directors, official sources said. A formal rule change for this purpose will soon be issued.
Under the existing Companies Act, companies are required to hold ‘physical’ meetings of their directors for the approval of financial statements, board's report etc.
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