No BM for 2 years - Copnsequences ????

Hi All,

A Pvt. Ltd. co., - ABC Pvt. Ltd. has only 2 members who are also the 2 lone directors of the Company. 

Out of the 2 directors, 1 director stays abroad and has not visited India from last 2 years and no Board Meeting or AGM is held for last 2 years, as a result of which Balance Sheets of the last 2 years are not adopted.

What are the consequences & the most appropriate remedy/compliance ??

Thanks in Advance,

Ravi.