Mr A attending his daughter rsquo s destination wedding joined a BM via Video Conferencing At this m...........

Companies Act-Phase (I & II) Board-powersandMeetings

Mr. A attending his daughter’s destination wedding joined a BM via Video Conferencing: At this meeting discussion was done regarding financial budgets and approval of the Financial Statement. Presence at BM via Video Conferencing is not permissible for which of these matters?

Discussion for budgets are not permissible

Approval of annual Financial Statement is not permissible

Both are permissible

Both are not permissible

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Explanation:

Matters which cannot be transacted through Video Conferencing
i. The approval of the annual financial statements;
ii. The approval of the Board’s report;
iii. The approval of the prospectus;
iv. The approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover