Board Meeting GAP

Every company shall hold minimum 4(four) board meetings each year. Here "year" means calendar year (from January to December) and not financial year of the company. Gap between Two consecutive board meetings: not more than 120 days. Companies act 2013: This provision is prescribed under section 173(1). Under section 166 of the Companies Act 1956, there is no provision for holding 2nd or subsequent AGM but in the new provision under section 96 of the Companies Act 2013 the time limit for such AGM has been fixed to be held with in a period of six months from the end of financial year.

yes, min 1 board meeting in each quarter, as per secretarial standard.

No it's not mandatory to hold 1 meeting in each quarter

Board Meeting under Companies Act

1. Meetings of Board (Sec 173)

a. Every company shall hold its first board meeting within 30 days from the date of incorporation. After the first board meeting, every company shall hold minimum four board meetings in a calendar year.

b. In holding board meetings during the year, there shall not be more than 120 days gap between two consecutive board meetings.

c. The above mentioned gap of 120 days stands extended by a period of 60 days till next two quarters i.e. till 30th September 2020 (as per general circular no. 11/2020 dated 24.03.2020) issued by the Ministry of Corporate Affairs in view of Covid 19 outbreak.



d. In case of one person company, dormant company, small company, section 8 company and private company (if such private company is a start-up) this section is deemed to have been complied if at least one board meeting has been held in each half of a calendar year and the gap between two meetings shall not be less than 90 days.

e. In case of specified IFSC private company (Note – 1) and specified IFSC public company (Note – 2), it shall hold its first board meeting within 60 days from the date of incorporation and thereafter, shall held atleast one meeting in each half of a calendar year.

f. Every officer whose duty is to give notice under this section, fails to do so shall be liable to a penalty of rupees twenty five thousand

AS PER SS-1 , The Board shall meet at least once in every calendar quarter, with a maximum interval of one hundred and twenty days between any two consecutive Meetings of the Board, such that at least four Meetings are held in each Calendar Year.

Every company shall hold atleast four board meetings in a financial year, gap between two said meetings shall be 120 days

2.1Meetings of the Board

The company shall hold at least four meetings of its board in each calender year with a maximum interval of one hundred and twenty days between any two consecutive Meetings

The company shall hold first Meeting of its Board within thirty days of the date of incorporation. It shall be sufficient if subsequent Meetings are held with a maximum interval of one hundred and twenty days between any two consecutive Meetings