Companies having paid up capital Rs. 50 lakhs or turnover as per last Profit & Loss Account Rs. 2 crores will be called as "Small Company" other than public company.
Small Company is required to hold minimum 2 board meeting in a year in such a way that atleast one meeting of the Board of Directors has been conducted in each half of a calender year and the gap between the two meetings is not less than ninety days.
Whether Small Company can hold more than 2 board meeting in a year and gap between two board meetings will be less than ninety day just like other than Small Company.
Example: A Pvt. Ltd. being a Small Company filed its Board Resolution for MBP-1 with ROC on 24.06.2014 holding its board meeting on 28.05.2014 through MGT-14. But the said Co. wants to hold board meeting for approval of accounts on 06.08.2014 for which it is required to file MGT-14 with in 30 days from holding board meeting. My quarry is whether this small company can do so? Will there be any violation of provision of Section 173 (5) Companies Act, 2013?
Thanks in advance.
CAclubindia
