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Number of board meetings in a year
section 173 of comapnies act 2013 says that every company shall hold 4 board meeting in a year and gap between two consecutive board meeting should not be more than 120 days.
Now I need clarification on word "year". Should it be a financial year or calendar year?
Replies (14)
Calendar year only.....
Hi Ravi Saini,
I think the year is financial year (Apr-Mar) of the company in the context of holding board meetings
Year means calendar year Jan -Dec
According to General clauses act ,1897 a 'year' means a period of 12 months running from 1st jan to 31st Dec
I think Its fy ie.apr to march
It's financial year.
It is calendar year
Jan to dec sure shot
It is calendar year. As act specifically says financial year when it has to refer to it.
It is clearly given u/s 173(1),the word 'year' means a Calendar Year.
It's calendar year...
Its financial year not calendar year...
calender year sure
In this regard, whether you consider year as a calender year or financial year, the resultant effect remains the same. According to the Companies Act 2013, it recognises financial year i.e. 1st April to 31st March
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