On account of COVID – 19 being declared a worldwide pandemic by the World Health Organization, several countries have taken a slew of drastic measures to combat the spread of the virus. The alarming rise in the number of cases in India actioned the Central Government into implementing a nationwide lock-down. Further, taking cognizance of the disruptions in operations, logistics as well the workforce caused by the lock-down, the Ministry of Corporate Affairs, Government of India (“MCA”), the market regulatory – Securities and Exchange Board of India (“SEBI”) and the central bank – Reserve Bank of India (“RBI”) announced several relaxations in regulatory and statutory compliances that have to be undertaken by the companies to enable them to tide over this period of disruption caused by COVID-19. In this article, we have discussed the various relaxations permitted to companies for business continuity during this period by the MCA, SEBI and RBI.
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Contributing Advisors
Myles CulmerDirector, BDO Advisory Services