Board of Directors Meeting

This query is : Resolved

Share Report Follow Query Ask a Query

Rachna

Rachna (Querist)
Follow

16 September 2010 What are the consequences of not holding a Board of Directors meeting in an quarter.

CS Richa Sharma

CS Richa Sharma (Expert)
Follow

16 September 2010 As per Section 285 of Companies Act,1956, a meeting of the Board of Directors must be held at least once in every three calendar months(i.e each quarter), and there should be held at least four directors' meetings every year.

#Consequences of not holding Board Meeting:
Though there is no special penalty provided for non-compliance with the requirements of this Section,the default is punishable Under Section 629A of the Companies Act,1956. The Offence is compoundable under Section 621A of the said Act.

Message likes : 1 times

Ankur Garg

Ankur Garg (Expert)
Follow

16 September 2010 Agree

According to me as section 285 is silent about the penalty so penalty as provided in Section-629A shall apply.

Kindly go through section 629A.

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

shreesh acharya

Vishal Dave

Vijay Mishra

Dalbir Singh Wadhera

Dhananjay Singh

Subscribe Now

Board of Directors Meeting

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

Accountant

GST CONSULTANT

CA Final

Manager- Finance and Compliance