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.
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