MCA Relaxation u/s 149 for FY 2020-21 related Minimum residency Period

Ministry of Corporate Affairs vide General Circular no. 36/2020 dated 20 October, 2020 has issued circular regarding Special measures under the Companies Act 2013 and LLP Act 2008 In view of COVID-18 outbreak- Extension –reg.

In continuation to General Circular No. 11/2020 dated 24^th March, 2020, keeping in view the requests received from various stakeholders seeking relaxation from the residency requirement of 182 days in a year and after due examination, it is hereby 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 be treated as non – compliance  for the Financial Year 2020-21 also.

Source: http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.36_20102020.pdf

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