Board meeting with short term period of less than- 24 Hours

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This query is : Resolved

hariharan (Querist)

11 December 2020 Majority of directors decided board meeting with less than 21 hours for approval of annual accounts, Directors report, auditors report through Google Meet. One of the senior director requested the Majority directors to give sufficient time for meeting ( not less than 7 days). But the majority directors conducted the board meeting. WHETHER the MEETING is VALID or NOT?
Whether the minority director raises compliant to ROC?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

15 December 2020 To transact urgent business, the Notice, Agenda and Notes on Agenda may be given at shorter period of time than stated above, if at least one Independent Director, if any, shall be
present at such Meeting. If no Independent Director is present, decisions taken at such a Meeting shall be circulated to all the Directors and shall be final only on ratification thereof by
at least one Independent Director, if any. In case the company does not have an Independent Director, the decisions shall be final only on ratification thereof by a majority of the Directors of the company, unless such decisions were approved at the Meeting itself by a
majority of Directors of the company.

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