MUMBAI : The government on Wednesday further eased compliance norms for Indian companies as they move to pass ordinary and special resolutions amidst the lockdown to limit the spread of the Covid-19 outbreak.
The Ministry of Corporate Affairs (MCA) in a circular issued on Wednesday said that companies can take urgent decisions without convening a general meeting and ratify them through the e-voting process.
This relaxation is not applicable for decisions of ordinary course or business where any person has right to be heard. 'Unavoidable' extraordinary general meetings (EGMs) need to be held through video-conferencing (VCs) and a transcript of the proceedings would need to be maintained by the company. "Such VCs would need to have a