A Board Meeting is a formal gathering of all the directors of the company to discuss various matters. Board meetings are meetings at the highest level where board members or their representatives are present. The board of directors act as agents through which the company takes actions as well as makes decisions.
Every company shall hold its first board meeting within 30 days from the date of incorporation. After the first board meeting, every company shall hold minimum 4 board meetings in a calendar year. In holding board meetings during the year, there shall not be more than 120 days gap between two consecutive board meetings.
In case of one person company, dormant company, small company, section 8 company and private company at least one board meeting has been held in each half of a calendar year and the gap between two meetings shall not be less than 90 days.
Every board meeting shall be held by giving at least 7 days notice in writing to every director at his address registered with the company. The quorum for meeting of Board of Directors of a company shall be one third of the total strength or two directors, whichever is higher.
Important Provisions relating to Board Meetings for Private Limited Company
|First Board Meeting||To be held within the first 30 days, since the incorporation date|
|Minimum number of Board Meetings||A minimum of 4 board meetings must be held in a span of one year. |
In case of OPC, Small Company or Dormant Company 1 board meeting in each half of the Calendar year must be held.
|Gap between two Board Meetings||There cannot be a gap of more than 120 days between two meetings.|
In case of OPC, Small Company or Dormant Company the gap between two meetings shall not be less than 90 days.
|Notice||Required to give notice at least 7 days before the actual day of the meeting.|
|Quorum for the Board Meeting||The minimum number of members of the board required for a meeting is 1/3rd of a total number of directors.|
At any rate, a minimum of two directors must be present. However, in the case of One Person Company, this rule do not apply.
For more details contact out team at +91-7991109093 or drop email us at [email protected]
Note: This Post was last updated on December 10, 2022
Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation i.e. December 10, 2022. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, We assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. We assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL WE SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION.