Is that the minutes of the Board Meeting has to be approved by the immediate suceeding Board Meeting? Is that the approval is mandatory under S.193 of Companies Act?
5 Replies
Mayank Mehta
(Student)
(383 Points)
Replied 31 December 2008
hii..... follow the link u will definately get ur ans...
www.vakilno1.com/bareacts/companiesact/s193.htm
Muralidharan
(Self Employed)
(1034 Points)
Replied 31 December 2008
I do not think that Section 193 talks about placing of previous meeting minutes during succeeding or next board meeting. The section stipulates the period within which the minutes of the board and general meeting has to be drafted, recorded and signed by the Chairman.
But it is the general practice followed wherein the previous meeting minutes are placed before the board during the next meeting to enable the board to approve and take on record the same.
However I would advise the queriest to go through clarifications issued by the Department in this regard. Also go through the point "CONFIRMING THE MINUTES OF A PRIOR BOARD MEETING" as provided in A. Ramaiya.
Muralidharan
Pavan Jain S
(Chartered Accountant)
(1575 Points)
Replied 31 December 2008
Companies Act does not require that the minutes of the BM must be approved in the next BM. The minutes of a BM must be signed by the chairman of the meeting within a period of 30 days. There is no other requirement stipulated in this regard.
As a matter of practice, the minutes of previous BM are placed before the directors in the next meeting. There is no requirement that the chairman must sign only after the minutes are approved
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