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Board meeting

22 September 2020

Company laws says that for a newly incorporated company 1st board meeting should be held in 30 days of date of incorporation of a Calendar year
so what if the company is incorporated on 30th of December it self

And in the year of incorporation is the company exempt from having 4 board meeting..

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11 Replies

Shiva Gupta (Paid Assistant) (155 Points)
Replied 22 September 2020

What do you want to know ?

MOHIT AGARWAL (3 Points)
Replied 22 September 2020

I want to know how the company will comply with the particular provisions relating to board meeting if it got incorporated during the month of December

Shiva Gupta (Paid Assistant) (155 Points)
Replied 22 September 2020

Yes.... on the line with calendar year....
that mean , company must conduct 4 board meeting up to next december

1 Like

mayur borhade (113 Points)
Replied 22 September 2020

Where it has written about calender year.

Shiva Gupta (Paid Assistant) (155 Points)
Replied 22 September 2020

Please read section 173

mayur borhade (113 Points)
Replied 23 September 2020

173.Meetings of Board (1) Every company shall hold the first meeting of the Board of Directors within thirty days of the date of its incorporation and thereafter hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than one hundred and twenty days shall intervene between two consecutive meetings of the Board: Provided that the Central Government may, by notification, direct that the provisions of this sub-section shall not apply in relation to any class or descripttion of companies or shall apply subject to such exceptions, modifications or conditions as may be specified in the notification.

Sudhanshu kumr singh (Student) (28 Points)
Replied 24 September 2020

Doesn't the company follows the financial year system ? or is the calendar year system for board meetings?

mayur borhade (113 Points)
Replied 24 September 2020

Company follow financial year system (Apr to Mar) unless it has taken approval of NCLT for calender year.

Sudhanshu kumr singh (Student) (28 Points)
Replied 24 September 2020

Ofcourse that's only when company is incorporated in other country and that nation has different rules of financial year, then the company can apply for permission to follow that system.

mayur borhade (113 Points)
Replied 25 September 2020

If you know, then why you are following calender year for Board Meeting?

Sudhanshu kumr singh (Student) (28 Points)
Replied 25 September 2020

Have gone around the bend??? I am not the one asking it. read the main question that has been put forth by Mohit Agarwal. And to answer Mohit's question , giver that if the company is incorporated in india on the 30th Dec of a particular year then the company can it's first board meeting conducted within the time time frame . as the year ending for the company will be 31st March of the following year .