A One Person Company, small company and dormant company 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.
My interpretation says
- That first board meeting of second Half calendar year should be held after 90 days from the date when the board meeting of first half calendar year was held.
- If more than one board meeting is held in one half calendar year then gap between that two meetings can be less than 90 days.
Kindly suggest if I am wrong anywhere.
CAclubindia
