Board meeting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2014
What is the last date of holding first Board meeting for small company and for company other than small company for 2014 as sec. 173 is applicable w.e.r 1-4-2014?Please explain in detail.
CS Mitesh Mehta
(Expert)
06 August 2014
Small Company
Section 173(5)-A small company may hold only two board meetings in a year, i.e. one Board Meeting in each half of the calendar year with a minimum gap of 90 days between the two meetings.
i.e one meeting may be held between January - June & next meeting between July- Dec with minimum time gap of atleast 90 days between 2 meetings.
Section 173(1)- Every company shall hold the first meeting of the Board of Directors within 30 days of the date of its incorporation and thereafter hold a minimum number of 4 meetings of its Board of Directors every year in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board.
e.g if last board meeting was held on 31st march 2014 then next board meeting can be held upto 28th july, 2014. (April 30 days + May 31 Days + June 30 days +July 29 days = 120 Days).
Section 173(5)-A small company may hold only two board meetings in a year, i.e. one Board Meeting in each half of the calendar year with a minimum gap of 90 days between the two meetings.
i.e one meeting may be held between January - June & next meeting between July- Dec with minimum time gap of atleast 90 days between 2 meetings.
Section 173(1)- Every company shall hold the first meeting of the Board of Directors within 30 days of the date of its incorporation and thereafter hold a minimum number of 4 meetings of its Board of Directors every year in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board.
e.g if last board meeting was held on 31st march 2014 then next board meeting can be held upto 28th july, 2014. (April 30 days + May 31 Days + June 30 days +July 29 days = 120 Days).
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