Coronavirus: Corporate affairs ministry asks businesses to report preparedness1 min read . Updated: 20 Mar 2020, 09:45 AM IST
- Since companies are major employers, their cooperation is essential to contain the pandemic
- As on Friday, India had 195 confirmed cases, with four deaths and 20 recoveries
NEW DELHI: The ministry of corporate affairs has asked businesses to extend work-from-home policy for employees to the maximum extent possible, and sought compliance reports on their readiness to fight COVID-19.
Injeti Srinivas, secretary in the ministry, urged businesses to implement preventive measures including videoconferencing, staggered work timings and work from home policies as well as advisories by public health authorities. The compliance report will have to be submitted in a web form to be made available on Monday.
Since companies and limited liability partnerships (LLPs) are major employers, especially in urban areas, their full cooperation is essential in containing the spread, morbidity and mortality due to the disease, Srinivas said in an advisory.
The advisory also said that in view of the gravity of the situation, the ministry has relaxed rules on board meetings and dispensed with the need of holding physical meetings to approve financial statements, board reports and restructuring, up to end of June. "We are also examining any other relaxations under the Companies Act, 2013, that may be necessitated on account of Coronavirus disease (Covid-19)," said the advisory.
India had 195 confirmed cases Covid-19, with four deaths and 20 recoveries as on Friday.
Global markets and businesses around the world have been hit hard following the pandemic which has let to shut down of cities and factories, disrupting supply chains and raising fears of a global recession. Governments and businesses have suspended non-essential travel and closed borders to contain the spread of the disease.
"As part of disaster management to meet this urgent and severe health exigency, all companies and LLPs are expected and are strongly advised to put in place an immediate plan to implement the work from home policy as a temporary measure till 31 March, 2020, after which the position will be reviewed by appropriate authorities as per the evolving situation," the advisory said.
“I sincerely hope that you will take all possible precautionary measures at your end to meet this public health situation and contribute to containing the disease and minimising its contagious effect," Srinivas said in the advisory.