Board meetings (very urgent)

Dear Madam/Sir,

There is a one Private Limited company and for the financial year 2015-16 only 3 Board meetings has been convened and held. As per the AOA company shall give atleast 14 days notices to all directors. But if Company fails to call one board meeting in the above said financial year then what shall be repercussions of this?

Kindly solicits your views and do the needful.

Thanks & Regards

Replies (5)

If your company is Small Company as per definiton of Section 2(85) of Companies Act, 2013, then such Small company does not require to have 4 meetings. Such company can have only 2 board meetings in a year. Please refer Section 173 of Companies Act, 2013.

Thanks Mr. Pratik,

But consequently company is big one, anyways many thanks again.

i work in a company where there is no board meetiong as such held..documentation is just on paper since it is a private company..consult bod and socument another board meeting on paper and get the resolutions signed

or else u l b liable to penalty

Hi Mangesh,

As per Section 173 (1) read with SS1

"Every Company shall hold atleast 4 BM every year, atleast once in every Calendar Quarter with a max. gap of 120 days between two consecutive meetings."

 So, under ur situation you can show Board Meeting frm back date on any anyday, please make sure that the meeting can be held at any day not being a National Holiday, check that the quarterly requirement of BM is fulfilled or not and show the BM accordingly.

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