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‘A. Ltd incorporated in 2011, held Board meetings between 1st January 2016 to 31st December 2016 on the following dates:
2nd January 2016, 28th April 2016, 1st August 2016, 1st October, 2016, 1st December 2016
Many of the Directors refrained from attending the Meeting on 1st December claiming that it was illegal as the Sec 173 required only 4 meetings mandatorily in a year. Is the BM held on 1st December 2016 Invalid?
Yes, 1/12/2016 is not a legal BM, as it’s the 5th meeting.
No, 1/12/2016 is a legal BM as 4 meetings are the minimum number of BM stipulated.
No, since 4 meetings are to be calculated in FY 16-17, it’s a valid meeting.
No, as Board Meeting is held after 3 years of incorporation hence 5 BM are permitted.
1. First Board Meeting (BM) should be held within 30 days of the date of Incorporation of Company
2. There shall be minimum of 4 Board Meeting every year and not more than 120 days shall intervene between two consecutive Board Meeting.
3. In case of One Person Company, Small Company, Dormant Company, Start up Private Company, Section 8 Company:
> At least One BM should be conducted in each of the half of the calendar year
> The gap between the two BM should not be less than 90 days.
By: Srishti Gupta ProfileResourcesReport error
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