One Person Company, small company, dormant company and a private company [if such private company is a start-up] shall be deemed to have complied with the provisions of this section if at least one meeting of the Board of Directors has been conducted in each half of a calendar year and the gap between the two meetings is not less than ninety days, .........
why "not less than ninety days" condition?
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Board meetings
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Generally for companies 4 Board meetings are required to be held, with a gap between two meetings should not exceed 120 days, But due to exemption, If pvt startup/opc/dormant companies hold 2Board meeting in a Calendar Year with "GAP BETWEEN TWO MEETINGS OF MORE THAN 90 DAYS IN EACH HALF YEAR THEN IT DONT NEED TO HOLD 4 MEETINGS IN A YEAR, And here condition is One Meeting In a half year with gap of more than 90 days)
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