Board meeting

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   Board meetings

Board” means the Board of Directors of a company.

Formal meeting of board of directors of organization, held usually at definite intervals to consider policy issues  and  major problems.Presided over by a chairperson (chairman or chairwoman) of the organization or his or her appointee, it must meet the  quorum requirements and its deliberations must be recorded in the  minutes. Under the  doctrine of collective responsibilility , all directors  (even if absent) are bound by its resolutions.

 

Frequency of meetings-----

·         The board should hold  its board meeting atleast once in 3 months.

·         Maximum interval should not exceed 120 days.

·         So there should be atleast 4 meetings are held in a year.

·         Section 25 company can hold only one meeting in every six months.

 

          NOTICE

Should be given to ……

 

 

 

Director

 

 

 

 

 

 

Alternate director

 

 

 

Interested director

 

 

As per regulation 73  of Table A BM can be called by

·         Any director

·         A manager

·         A secretary.

 

PLACE for holding meeting -----           

Board  meeting should be made at the reg office of the company as because register of contract are kept at the same place.But if the notice has been given properly that the books can be checked at proper time and place then meeting can be held at any place other than reg office.

 

Notice ----

ü  15 days notice should be given as per SS1 of ICSI.

ü  Notice can be given by email ,fax or other electronic mode.

ü  Notice as a reminder  where article fix a particular day i.e. last Saturday of each month as per DCA.

ü  Proceeding of the BM are valid if absent director don’t complaint.

ü  Adjourned meeting can be given to absent directors as per SS1

ü  Absence of agenda doesn’t invalidate the meeting.

ü  An adjourned meeting cant be held on a public holiday unless article provide so.

 

Quorum -----

1/3 or 2 whichever is higher of the no of directors based on the total strength of the board.

Adjourned on want of quorum ----

If the quorum cant be is not present at the reqd meeting then meeting can be postponed to next week , same time and place.

Where adjourned meeting day is holiday ----

                Then meeting will be held on next succeeding day which is not a public holiday.

Quorum strength falls below the requirement ----

§  Increase the directors no upto the minimum of quorum

§  Convene a general meeting.

 

Chairman ---

Ø  The BOD can elect one of its directors as chairman for the same meeting.

Ø  Or otherwise A chairman who is already a chairman

Ø  The chairman can make its second or casting vote if the votings are in equal.

Ø  But this right is not available for a particular meeting director.

 

Regards

Renu.

 

Replies (30)

Thanks to all CCI members as I m selected as one of the leading members Of the CCI


thanks to admin and thanks to all friends



Regards

renu.

Congrats Renu ji..............carry on nice presentation of board meeting......

Congratulations!!!!

Congratulations!!!!

Congratulation Sister .smile. U are deserve it.smile. Very nice all articles.

congratulations!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Congratulations...  Renu ji. Keep posting articles like this.

Wishing you continued success... and best of luck in all of your future endeavours..

With Best wishes,

Congratulation..... Have Celebrations..... Keep Going dear....!!!

CONGRATULATIONS AND KEEP ROCKING.

Hey very nice.

Keep up the good work.

Best luck for your forthcoming Endeavours.

Keep Rocking!!!!!!

firstly congrats dear.. and a very nice article.. u very nicely summarised all the provisions on board meeting in a small part.. keep sharing other provisions too..

Congrats You deserve every bit of it. Just continue with your good work.

 

Now coming to the article. Nice One but some amendments need to be added with regards to the Participation by directors in meetings of Board of directors under the Companies Act, 1956 through electronic mode (General Circular No 28/2011 dated 20 May, 2011) such as:

**Directors participation through Video Conferencing shall be counted for the purpose of quorum.

**Every Director must attend personally at least one meeting, a financial year of the company. Etc.

Congratulations Renu
 

Originally posted by : Resham

Congratulation..... Have Celebrations..... Keep Going dear....!!!


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