GAP BETWEEN TWO BOARD MEETINGS UNDER SECTION 173 of COMPANIES ACT- EXTENDED BY 60 DAYS DUE TO COVID DIFFICULTIES

The Ministry of Corporate Affairs (MCA) has come out with a circular referred General Circular No. 08/2021 dated 03-05-2021 with a view to grant interim relief to companies midst Covid-19 pandemic, by extension in time period for holding Board Meetings in the following manner:

"In view of the difficulties arising due to resurgence of Covid-19 and requests received from stakeholders, it has been decided that the requirements of holding meetings of the Board of Directors 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."