mca extends minimum residency criteria relaxations for directors for f y 2020 21 amid covid 19 outbreak

mca extends minimum residency criteria relaxations for directors for f y 2020 21 amid covid 19 outbreak




Keeping in view of the requests from various stakeholders seeking relaxation from residency requirement of 182 days in a year and after due examination, The MCA has clarified that non-compliance of minimum residency in India for a period of at least 182 days in a year, by at least one director in every company, under section 149 of the Companies Act, 2013 shall not treated as non-compliance for the financial year 2020-2021.







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