15 July 2011
In a board meeting there was was no problem about quorum but all the agenda could not be concluded due to time constrain. Hence if a decision is taken to adjourn it to another date to settle the unsettled issues whether can be treated for a valid reason of adjournment? In this regard AOA is clearly stated that even a board meeting can be adjourned subject to restriction if any otherwise provided by section 285 of the company's Act.
Whether such a reference of AOA give strength the company to go for adjournment in this case? Please suggest.
15 July 2011
Yes the Board meeting can be adjourned to the next day at the same place and same time as all the agenda could not be completed. This adjourned meeting shall not be called as adjourned meeting but shall be continuing meeting.
The meeting if adjourned with mutual consent for any other day is called adjourned meeting and it is possible as the quorum was not a problem.
In case of there is no quorum then the same is automatically adjourned to the the next week on the same day and same time.
16 July 2011
thanks Mr. Agarwal but i just want the reference of company's Act where adjournment of Board meeting in another date is mentioned.
Secondly, Say in day1 there were 6 agenda and the last agenda was adoption of annual accounts by the Board member. Now after 4th agenda the meeting discontinued and it was referred certain further changes in Annual Accounts now on the adjourned meeting (the date fixed up in day1) when the accounts was placed it was placed with the changes as suggested in day1 the same will be placed before the Board for adoption. Is it technically correct?
CAclubindia
