Hi, Kindly clarify the following:
ABC Pvt. Ltd. has four Directors, out of them one director gone abroad in middle of September 2014, remaining three where in India only.
What are the effects under companies Act 1956.
Board meeting requirements for FY 2013-14
As per Section 149 of the Companies Act, 2013, Minimum number of directors for private limited company is 2 and for public limited company is 3.
As per section 173 of the Companies Act, 2013 every company shall hold a minimum number of 4 meetings of its Board of Directors every year in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board:
As per section 167(1)(b) , director absent himself from the entire board meeting held during a period of 12 months with or without obtaining leave of absence, his office as director shall vacate.
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