Extension of Minimum Residence Criteria Relaxation for Directors for FY 20-21due to COVID-19.
General Circular No. 36/2020
To
The DGCoA,
All Regional Directors,
All Registrar of Companies,
All Stakeholders.
Subject: Special Measures under the Companies Act, 2013 and Limited Liability Partnership Act, 2008 in view of COVID-19 outbreak- Extension- reg.
Sir/Madam,
In continuation of General Circular No. 11/2020 dated 24th 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.
2. This issues with the approval of the competent authority.
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