Rahul Kumbla 01 June 2020
1.Sec 173(1) in case of Section 8 companies shall apply if at least 1 Board Meeting is held 'within every 6 calendar months'.
Does 'within every 6 calendar months 'imply :
a. Max gap between two meetings is 6 months or
b. 1 Board Meeting should be held in each half of the calendar year.
2. In Sec 173(5), at least one Board Meeting in each half of the calendar year and the gap between two meetings should be at least 90 days. Does this also mean the gap should be 90 days even if the 2 meetings are held in the same half of the calendar year?
Padmanabhan (Student) 07 June 2020
One B.M is to be held in each half year, here there is no restriction on gap between two meetings.
In this case the section has specified the time gap between the meetings held in different half years not between each meeting.