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Minimum No. Board Meetings per year Gap between 2 meetings

Refer: Section 173 of the Companies Act, 2013

How many board meetings per year?

Every company shall hold a minimum of 4(four) meetings of its board of directors each year. 

Here, "year" means calendar year (from January to December) and not the financial year of the company (which is from April to March).

Gap between two board meetings

Not more than 120 days shall elapse between two consecutive board meetings.


First Board Meeting

First board meeting shall be held within 30 days of the date of incorporation of the company.

Board Meeting for OPC, Small Company & Dormant Company

Minimum number of board meetings for OPC, small company and dormant company is 1(one) board meeting in each half of a calendar year.

Gap between two consecutive board meetings shall not be less than 90 days.

If an OPC has only 1 director, then the above provisions are not applicable.

Secretarial Standards

SS-1 on Meetings of the Board of Directors:
• Minimum 4 board meetings in each calendar year (Jan to Dec);
• 120 days of maximum gap between 2 consecutive board meetings.


Listed Entity

Regulation 17(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
• The meeting of the board of directors - at least 4 times a year;
• a maximum gap of 120 days between any two consecutive meetings.

Comments

  1. Please Guide if a company incorporated in the mid of the calendar year then 2 board meetings in that calendar year are sufficient compliance for the purpose of this section.
    please guide me.......

    ReplyDelete

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