Board Meetings
Under Companies Act, 2013: The Foundation of Corporate Governance
A Board Meeting is not just a gathering; it is a statutory mandate. It is where the vision of a company meets the rigor of law. Failure to comply is no longer an option in the modern regulatory era.
📅 Frequency Requirements
Public / Private Limited:
Min 4 Meetings per year.
Gap must not exceed 120 days.
Small Company / OPC:
Min 2 Meetings per year (one in each half calendar year).
👥 Quorum & Notice
Notice: Minimum 7 Days prior notice is mandatory to all directors.
Quorum: Minimum 2 Directors or 1/3rd of total strength (whichever is higher).
🧾 Key Decisions & Compliance
- Financial Statements
- Opening Bank Accounts
- Taking Loans / Investments
- Auditor Appointment
- Minutes Preparation
- ROC Documentation
⚠️ Risk of Non-Compliance
Ignorance of Board Meeting protocols can lead to heavy penalties on both the Company and its Directors, including disqualification in severe cases.
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