Sec 173(5) requires only 2 boad meetings to be held for small companies and minimum 90 days gap should be there Whereas 173(1) specifies max gap of 120 days.
Now if a small company have more than 2 board meetings, which section will apply ? What are your views?
As per section 173(5) of the Companies Act 2013, read with SS1, SMALL COMPANY SHALL HOLD ATLEAST ONE BOARD MEETING IN A CALENDER YEAR. AND 2 BOARD MEEING IN A CALENDER YEAR AND TIME TIME LAG BETWEEN 2 BOARD MEETING SHALL NOT BE LESS THAN 120 DAYS. IT IS THE MINIMUM BOARD MEETING REQUIREMENT IMPOSED BY THE LAW. SMALL COMPANIES CAN HOLD MORE THAN 2 BOARD MEETING AFTER FOLLOWING THE CONDITIONS GIVEN UNDER SECTION 173(5) FOR BETTER COMPLIANCE PRACTICES.
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