Hello
In case of a NBFC having six directors, is it necessary to give notice of board meeting and AGM to every director?
What if notice is not given to 3 directors. Is the company liable in this case, what is the remedy available in the hands of directors?
As per section 173(3), meeting of board of directors shall be called by giving not less than 7 days notice in writing to every director at his address registered with the company."
Hence, notice is must to be given to every director otherwise the officer in default (i.e. the person to whom the duty for serving notice was given for board meeting )shall be liable to a penalty of rs. 25000 as per section section 173(4)
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