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5th Question: It May be Relevant for May 2011 Exam

Suresh Prasad (www.aubsp.com) (15630 Points)

04 February 2011

Which date is Relevant ?

Question:

Spsmiter Pvt. Ltd. has held its Board Meeting on 22^nd February, 15^th May and 7^th August, 2010. The 4^th meeting has been convened on 28^th December, 2010 but for want of quorum it has been adjourned and held on 4^th January, 2011.

1^st Question: Whether it had complied Companies Act, 1956.

2^nd Question: Which date should be taken for the purpose of calculating the statutory period of once in every three months?

3^rd Question: What will be your answer if it is a listed company?

Try to solve this Prob. before downloading the Ans. and comment on the given Answer.

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4 Replies

pravin (student) (38 Points)
Replied 05 February 2011

hi Suresh

1. partly complied with the companies Act. If a meeting has Adj for want of Quoram it should be held on the same date, place and time unless it is a holiday. AOA of the Co should also be seen in this case. if it says otherwise the AOA shall be followed.

2. The date for taking the SP will be the Adj. date and not the orginal meeting.

3. IF it is listed co the stand wont change. some procedural issues may aries.

1 Like

Rajeev kumar Nayak (ACS) (283 Points)
Replied 05 February 2011

Hi Suresh,

Ans of Q 1. : There is all compliances of Companies Act, 1956. As per Sec 285, one BM should be held in every 3 months in the last quarter it was to held on 28.12.2010but adjourned due to want of quorum. a per sec. 288, if BM adjourned due to want of quorum then it would be held next week same day or in case of holiday, on succeeding day and it would not be non compliances of sec. 285. in your case 288 is duly complied with.

Q- 2. Date of BM would be the 04.01.2011 but this meeting shall be for the December 2010 Quarter and one board meeting must be held in March 2011 quarter.

Q. 3. in case of listed company one additional condition is there should not be more than 4 months gap between 2 BM. in the present case this condition is also complied with.

Thanks

Rajeev Nayak