Board Meeting:
A meeting of the board of directors of a company at which the policy of the Company and major decisions as to its future actions are discussed. The powers of the board are usually set out in the company's Articles of Association (AOA).
Frequency of Board Meetings (u/s 173 of CA, 2013 & SS-1)
First Board Meeting of every Company: within 30 days of the date of its incorporation.
Minimum number of Meetings required: 4 meetings every year (one meeting in every quarter of the year)
Gap between two Board Meeting: not more than 120 days between two consecutive meetings of the Board.
Quorum for Meetings of Board ((u/s 173 of CA, 2013 & SS-1)
One third of its total strength or two directors, whichever is higher, and the participation of the directors by video conferencing or by other audio visual means shall also be counted for the purposes of quorum under this sub-section (Except for Section 8 Company)
Pre - Meeting Compliances
|
Sl. No. |
Compliance Particulars |
Timeline |
Remarks |
Filing Mode |
Applicability |
Applicable Laws |
|
1 |
Date of Sending Notice to Stock Exchange |
5 days before |
A) At least 5 days for Financial Result as per regulation 29 1 (a) |
For NSE : NEAPS PORTAL and For BSE : BSE LISTING CENTRE |
Listed Company |
SEBI (LODR) Regulations 2015 |
|
2 |
Press Release for Board Meeting in Newspaper on website of the company |
5 days before |
Either newspaper Cutting or Signed copy of the said on the Company's Letterhead |
On the Website of the Company |
Listed Company |
SEBI (LODR) Regulations 2015 |
|
3 |
Press Release for Board Meeting in Newspaper |
5 days before i.e. the date of Submission of information to Stock Exchange |
at least one English language national daily newspaper circulating in the whole or substantially the whole of India and in one daily newspaper published in the language of the region, where the registered office of the listed entity is situated: |
In newspaper |
Listed Company |
SEBI (LODR) Regulations 2015 |
|
4 |
Agenda of the Meeting & Notes thereof to Directors |
at least 7 (Seven) days before the date of the Meeting, unless the Articles prescribe a longer period. including sending date only |
by hand delivery or by post or by electronic means. |
Any mode of Correspondence as per SS1 |
All Companies |
As per SS-1 |
|
4 |
Intimation to Directors regarding Board Meeting |
7 days before Meeting including sending date only |
by hand delivery or by post or by electronic means. |
Any mode of Correspondence as per SS1 |
All Companies |
As per SS-1 |
|
5 |
Closure of Trading Window |
7 days before meeting including sending date only |
nothing written about 7 days criteria |
For NSE : NEAPS PORTAL and For BSE : BSE LISTING CENTRE |
Listed Company |
SEBI Regulations |
|
Section 173 (3) : Board Meeting may be called at shorter notice to transact urgent business subject to the condition that at least one independent director, if any, shall be present at the meeting. |
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Post - Meeting Compliances
|
Sl. No. |
Particulars |
Timeline |
Remarks |
Filing Mode |
Applicability |
Applicable Laws |
|
1 |
Disclosure to Stock Exchange |
Within 30 Minutes of Conclusion of the Meeting |
Should be filed within 30 minutes as mentioned on the conclusion letter, on NSE & BSE both, |
For NSE : NEAPS PORTAL and For BSE : BSE LISTING CENTRE |
Listed Company |
SEBI (LODR) Regulations 2015 |
|
2 |
Publication of Results in Newspaper |
Within 48 Hours Conclusion of the Meeting |
at least one English language national daily newspaper circulating in the whole or substantially the whole of India and in one daily newspaper published in the language of the region, where the registered office of the listed entity is situated: |
In Newspaper |
Listed Company |
SEBI (LODR) Regulations 2015 |
|
3 |
Minutes Preparation |
Within 15 days from the date of the conclusion of the Board Meeting |
draft Minutes thereof shall be circulated by |
Any mode of Correspondence as per SS1 |
All Companies |
Rule 3(12) of the Companies (Meetings of Board and its Powers) Rules, 2014 |
|
Financial Results to be uploaded in 2 modes on NSE : |
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|
1 |
Quick Results Mode |
Same Day |
w.e.f. April 01, 2017 onwards, all listed entities with BSE, required to make their filings in respect of Financial Results (Regulation 33 and Regulation 52) in XBRL mode within 24 hours of submission of results in PDF mode. This would not apply to Insurance Companies which can continue to make their filings for Financial Results in PDF mode only read Circular: http://www.bseindia.com/corporates/Displaydata.aspx?Id=8601a75a-9a67-4f22-b3e3-d5e45f559e04&Page=cir |
For NSE : NEAPS PORTAL |
Listed Company |
SEBI Regulations |
|
2 |
Full Results mode |
Within 24 hours of Meeting |
For NSE : NEAPS PORTAL |
Listed Company |
SEBI Regulations |
|
Note(s):
According to Section 173 of the Companies Act, 2013 (Act), the participation of directors in a meeting of the Board may be either in person or through video conferencing or other audio-visual means. If the participation of the director is through video conferencing or other audio-visual means, then the company shall ensure that all the following points are complied with:
(i) recording and recognizing the participation of the directors; and
(ii) recording and storing the proceedings of such meetings along with date and time. etc.
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