Number of board meeting in the year of incorporation
This query is : Resolved
16 October 2013
Company Incorporated in November 2012. How many board meetings has to be conducted before 31st of March 2013?
16 October 2013
Hi
You have to be completed two board meeting before the end of march 31, 2013.
Section 285 of the Act provides that every company, private or public, shall hold at least one meeting of the Board in a period of three months and four meetings in a year. There is no need to ensure a gap of not more than three months between two meetings. But in a company registered under section 25 of the Companies Act, has privileges that the Board or the Governing Body may meet at least once in six months (Notification No. SO 578, dated 8-7-1961).
You have to be completed two board meeting before the end of march 31, 2013.
Section 285 of the Act provides that every company, private or public, shall hold at least one meeting of the Board in a period of three months and four meetings in a year. There is no need to ensure a gap of not more than three months between two meetings. But in a company registered under section 25 of the Companies Act, has privileges that the Board or the Governing Body may meet at least once in six months (Notification No. SO 578, dated 8-7-1961).
16 October 2013
Interval between two Board Meetings:
The Department has clarified vide Circular letter No. 40/3/72-CL-III, dated 2-6-1973, that there is a clear distinction between 'every' and 'each'. 'Every' directs attention chiefly to the totality, 'each' chiefly to
the individual's composing it. In view of this distinction, the expression 'every three months' occurring in section 285 should naturally means three months taken together. Provisions of section 285 will be fulfilled if the Board of directors meets on the first of January, or the 31st March, or any date in between. Next three months should naturally comprise April to June. It is open to the Board of directors to meet on any date during three months from April to June. Similarly, the Board may, at least, meet on a particular date during July to September and so on. In section 285 there is no scope for making backward calculation.
Interval between two Board Meetings:
The Department has clarified vide Circular letter No. 40/3/72-CL-III, dated 2-6-1973, that there is a clear distinction between 'every' and 'each'. 'Every' directs attention chiefly to the totality, 'each' chiefly to
the individual's composing it. In view of this distinction, the expression 'every three months' occurring in section 285 should naturally means three months taken together. Provisions of section 285 will be fulfilled if the Board of directors meets on the first of January, or the 31st March, or any date in between. Next three months should naturally comprise April to June. It is open to the Board of directors to meet on any date during three months from April to June. Similarly, the Board may, at least, meet on a particular date during July to September and so on. In section 285 there is no scope for making backward calculation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
