Since the gap between 2 consecutive meeting shall not exceed 120 days. In case of adjourned Board meeting, Is 120 days count from the date of adjourned board meeting or Original board meeting for the compliance of sec 173?
In case adjourned meeting, when subsequent meeting is held, it is assumed that it has been held on the date of ORIGINAL MEETING, so no need to calculate 120 days. ORIGINAL MEETING SHOULD BE WITHIN TIME LIMIT.
Sir
Suppose original meeting held on 1st march but it was adjourned due to non presence of quorum and it was held on 8th march and resolved. Now the next meeting held on 3rd july. My question is whether we count 120 days from 1st march or 8th march for compliance of sec 173?
CAclubindia
