As per s.173(1) there shall be at least 4 BM in every calendar year. and it also says that the gap between 2 consecutive meetings shall not be more than 120 days.
Now let's take an example:
ABC ltd held its board meetings for calendar year 2020 as follows:
1st meeting: 31st Jan 2020
2nd meeting:1st march 2020
3rd meeting: 1st April 2020
4th meeting: 1st May 2020
Now here in this example one condition of holding at least 4 BM is satisfied.
But my doubt is will there be a contravention of provision if no meeting is held during 2020 after 1st may 2020 and next BM is held on 1st Jan 2021 which pertains to Calendar year 2021
CAclubindia
