INFORM – Corporate Compliance Update – April 2020

Following the announcement of the Pandemic, the Ministry of Corporate Affairs [“MCA”] introduced certain relaxations vide amendments to some of the provisions of the Companies Act, 2013 including convening Board meetings through video conference and spending CSR funds towards COVID-19. The Securities and Exchange Board of India [“SEBI”] has also introduced certain amendments. Further, a press conference was held on 24th March 2020 by the Union Finance Minister, Ms. Nirmala Sitharaman wherein she has announced a slew of measures to provide relief amid the coronavirus outbreak. This newsletter brings highlights of all the amendments and announcements.