MCA Issues Relief Measures To Conduct EGM: Nifty Solution To The Conundrum?

1. INTRODUCTION

In the wake of the COVID-19 pandemic and the consequent restrictions imposed on the movement of people, goods and services, companies are facing new hurdles in carrying on their business while ensuring compliance with the Companies Act, 2013 (the "Act") and the rules prescribed thereunder. In light of this, the Ministry of Corporate Affairs (the "MCA") has taken measures to ease the burden of companies in terms of corporate governance and secretarial processes required to be followed by them, particularly with respect to relaxing of certain procedural requirements required to be followed by companies for holding meetings of their members as well as that of their boards.