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Resurgence of Covid-19 cases during the ongoing second wave has prompted the corporate affairs ministry (MCA) to relax the norm around the time gap between two consecutive board meetings of companies in a financial year.
It has now said that the gap between two consecutive board meetings can extend to 180 days during the quarter – April to June 2021 and July to September 2021 – instead of 120 days as stipulated in the company law. Put simply, another sixty days window is being extended as gap between two consecutive Board meetings, say corporate observers.
Meanwhile, the MCA has granted additional time up to July 31 for companies/LLPs to file certain forms (other than charge related forms) without any additional fees. The MCA has also decided to allow relaxation of time and condone the delay in filing forms related to creation/modification of charges under the company law.
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