SIGNING OF FINANCIAL STATEMENTS BY DIRECTORS  FORM STK 2 NON RECORDING OF A VIDEO BOARD MEETING
Channel: R V Seckar
Date: 2020-09-16

HOW THE DIRECTORS SIGN THE FINANCIAL STATEMENTS WHEN BOARD MEETING IS HELD THROUGH VIDEO CONFERENCING ? 
Que. In case of Board Meeting held through video conferencing for approval of financial statements, can the Directors sign the financial statements on same Board Meeting date or Physical copies should be there for signing the same?

Ans. Where the Directors are not in a position to physically sign the financial statements or Minutes or any other documents, or scan and send, while approving the financial statements through VC or OAVM, the directors may give an affirmation that they are approving the statements/reports and considering the lockdown situation, they cannot sign the statements physically as of now and these shall be deemed to be signed as on date of the Board Meeting and they shall physically sign the financial statements, Minutes or any other documents as soon as the normalcy is restored as on the date of the meeting, such affirmations shall also be included in the minutes of the meeting. It is also advisable that wherever feasible the Directors may also affix their digital signatures during the meeting only and same fact should also be captured in the minutes

HOW TO VOLUNTARILY WIND UP A COMPANY AS FTE SCHEME IS UNAVAILABLE NOW?
FORM -STK-2 Application by company to ROC for removing its name from register of Companies

01. Affidavit from all the Directors, Individually on Rs.100/- Stamp Paper duly Notarised
02. Indemnity Bond by all the Directors on Rs.500/- Stamp Paper duly Notarised
03. Statement of Accounts (Nil Assets and Nil Liabilities) Certified by C.A.
04. Copy of Board Resolution and Special Resolution
05. Copy of PANCARD, Aadhar and Address proof
06. Copy of MOA and AOA

NON RECORDING OF A VIDEO CONFERENCE BOARD MEETING DUE TO TECHNICAL ISSUES – WILL IT BE A VALID BOARD MEETING ?
One of the VC meeting could not be recorded due to technical difficulties, but has captured screen shots showing a proof of meeting held and agendas discussed, will it suffice, whether we are 100% compliant, if not what need to be done. The agenda includedapproval of working capital facility (borrowings from bank).
A. Board Meetings held through VC are to be mandatorily recorded and such recordings are to be maintained till the completion of audit of the particular year. Due to some technical glitches if the recording could not take place, the Chairman and Directors may be informed and record the same in the minutes of the next board meeting. This shows the genuineness of the difficulty and the same satisfies the Secretarial Auditor as well as the Regulators.