Consequence of non holding of first bod meeting within a mon

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2015 WE HAVE INCORPORATED A PRODUCER CO. ON 13TH NOV.SO ACCORDINGLY FIRST BOD MEETING SHOULD HAVE BEEN HELD BEFORE 13TH DECEMBER. BUT DUE TO SOME REASONS, THE BOD MEETING WAS HELD ON 28TH DECEMBER.WILL IT LEAD TO NON COMPLIANCE.WHAT ARE THE CONSEQUENCES OF SUCH NON COMPLIANCE

Pratik Shah

Pratik Shah (Expert)
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30 December 2015 Companies Act does not ask a company to have first board meeting within a month. However, Secretarial Standard mandates company to have first board meeting within a month of incorporation.

Hence, it is a violation of SS.

Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2016 what are the consequence of such violation.is there any penalty stipulated under secretarial standards.

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Pratik Shah

Pratik Shah (Expert)
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04 January 2016 Please refer Section 118(10) and 118(11) of Companies Act 2013.

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