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Board Meetings during Covid 19

kings22 (Shareholder) (160 Points)

18 December 2020

THE MCA relaxed time between 2 board meetings from 120 days to 180 days until Sep 30, 2020. Does this mean that the Private Limited company only needs to have 2 meetings this year instead of 4 or the requirement is still to have 4 meetings. Trying to get this clarification.

Also, for a small private limited company can they just do 2 board meetings in a year or they should do 4 compulsory also.

Thanks!

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5 Replies

pritesh (delhi) (720 Points)
Replied 18 December 2020

Private company have to do 4 board meetings. further there is a provision in act in which small company can do 2 board meetings in a year.

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kings22 (Shareholder) (160 Points)
Replied 18 December 2020

Hello Sir - Can you please point me to the provision/section in the act that says small companies can do 2 board meetings in a year. Many Thanks for your response.

kings22 (Shareholder) (160 Points)
Replied 19 December 2020

Is this 2 board meeting for a small company per calendar year or financial year?

pritesh (delhi) (720 Points)
Replied 20 December 2020

Section 179 (5)

5) A One Person Company, small company and 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: Provided that nothing contained in this sub-section and in section 174 shall apply to One Person Company in which there is only one director on its Board of Directors.

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