Meaning of year for board meetings
This query is : Resolved
23 February 2017
Dear Experts
I have a confusion regarding meaning of "Year" in respect of Board Meeting. As per section 173 there should be 4 meetings in an year.
What does that year mean? Financial Year or 365 days from date of incorporation and on?
E.g. Date of Incorporation is Sep'16, would year mean Sep'16 to Aug'17?
Please confirm.
Thanks in Advance!!
I have a confusion regarding meaning of "Year" in respect of Board Meeting. As per section 173 there should be 4 meetings in an year.
What does that year mean? Financial Year or 365 days from date of incorporation and on?
E.g. Date of Incorporation is Sep'16, would year mean Sep'16 to Aug'17?
Please confirm.
Thanks in Advance!!
23 February 2017
Here year means calendar year (from January to December)
As per Secretarial Standard -1 (SS-1) -The Board shall meet at least once in every calendar quarter.
As per Secretarial Standard -1 (SS-1) -The Board shall meet at least once in every calendar quarter.
23 February 2017
Calendar year. Inference - section 173(5).
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24 February 2017
it's calendar year.... As per general clause act 1897.. (SS1 gave reference to Year defined in general clause act)
25 February 2017
As per section 173 of the companies act 2013 , read with SS1 , there sahll be 4 board meeting in a calaender year and 1 board meeting in calender quarter.
so as your company is incorporated on September 2016 , as per section 173 , the first Board meeting shall be held within 30 days from date of incorporation , so your board meeting shall have held by october 2016. And you also satisfied the criteria for the last calender quarter , ie ( Oct- December) ,
so as your company is incorporated on September 2016 , as per section 173 , the first Board meeting shall be held within 30 days from date of incorporation , so your board meeting shall have held by october 2016. And you also satisfied the criteria for the last calender quarter , ie ( Oct- December) ,
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