Can a Company Hold Board meeting by giving less than 15 days Notice?
Because as per new act, Companies "shall" follow secretarial Standards for Board meeting and as per secretarial standard, 15days notice "should" be given for holding a board meeting.
Thanks in anticipation
Secretarial Standards are in draft phase. Once they are operative Company has to follow them.
yes , but we already have existing secretarial standards which is talking about 15 days notice. the draft secretarial standard has 7 days notice's criteria.
Wording goes like this "Every company shall observe secretarial standards with respect to general and Board meetings specified by the Institute of Company Secretaries of India constituted under section 3 of the Company Secretaries Act, 1980 (56 of 1980), and approved as such by the Central Government."
To the best of my knowledge earlier SS has no effect as those SS are not approved as such by the CG.
Correct me if I am wrong.
CAclubindia
