LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

Board meeting on sundays

Sudhir Garg (Service) (236 Points)

16 November 2010

Dear all

I understand original board meeting may be on sundays (as well as on public holidays), for dealing any matters including approval of annual accounts etc. please confim my understanding.

Regards

Sudhir

Reply
Follow
Share

9 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 16 November 2010

ancDear Sudhir,

Your understanding is 100% correct. BM on sunday or public holiday is very much possible.

However BM adjourned for want of quorum can't be held on public holiday u/s 288(1).

Regards

3 Like

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 16 November 2010

Agree with Ankut.

Ajay Mishra (Company Secretary) (74332 Points)
Replied 16 November 2010

Agree with Ankur Sir..........................................

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 16 November 2010

Originally posted by : Ankur Garg
	ancDear Sudhir, Your understanding is 100% correct. BM on sunday or public holiday is very much possible. However BM adjourned for want of quorum can't be held on public holiday u/s 288(1). Regards

Exactly as Ankur Ji said....

jassi (ACA) (181 Points)
Replied 16 November 2010

Originally posted by : Ankur Garg
	ancDear Sudhir, Your understanding is 100% correct. BM on sunday or public holiday is very much possible. However BM adjourned for want of quorum can't be held on public holiday u/s 288(1). Regards

HELLO SIR...... IF THE BOARD SPECIFICALLY RESOLVE TO ADJOURN THE MEET TO A PARTICULAR DAY THEN THAT DAY CAN BE A PUBLIC HOLIDAY......... iS'NT IT........?????

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 16 November 2010

Yes Jassi it is possible...but reason of adjournment should not be lack of quorum otherwise section 288(1) will be applicable...which prohibit BM on public holiday.

Regards

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 16 November 2010

Yes, where section 288(1) come into existence, no Board Meeting can be held, after such adjournment, on Public Holiday.

Even if it has been specifically resolved, the Board Meeting would be held on the next succeeding day which is not the public holiday.

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 16 November 2010

Dear All,

I have a basic question. If the BM is allowed to be held on any day, why is restriction provided for adjourned BM, i.e, not to be held on a public holiday. I want the intention of law in this aspect

Thanks in advance

Rajeev kumar Nayak (ACS) (283 Points)
Replied 14 December 2010

I very much agreed with answer of all expert that BM can be held on any day including public holiday and any time including after business hours and even outside India.

But adjourned meeting due to want of quorum cannot be held on public holiday by virtue of section 288 of Companies Act, 1956.

with regards to question of Sunny of intention of law maker, I think for some provisions there is no logic and it is law because it is passed by the parliament. I fail to understand any logic behind this..

Thanks

Rajeev