Shridhi Jain (Company Secretary) (1678 Points)
23 August 2012What are the issues that can be included in any Board meeting by default ? I mean those general issues that can be included in a Board meeting.
Also, pls tell me, is declaration u/s 274(1)(g) is required to be disclosed by directors at every financial year end (just like disclosure of interest) and what are the other issues that shoud be discussed in the board meeting held just before the financial year end?
Can anybody pls provide me the format of the same?
CS Rajveer Rai, Gurgaon
(CS)
(646 Points)
Replied 23 August 2012
yes declaration should be given for each financial year
Swagatam Khandelwal
(Company Secretary)
(107 Points)
Replied 23 August 2012
Dear Shridhi
You are right..Disclosure U/s 274(1)(g) is required to be disclosed in every financial year & the same is to be noted in the minutes also..
There are no such specific matters which are required to be included in the agenda of every meeting. This depends on Company's policies. You can include the approval of un-audited quarterly results/half yearly results depending on the size of the Company. Similarly you can include a noting on status of statutory compliances during every quarter. If the Company is engaged in some project, a noting for discussion of same may be noted in every meeting.
Let us wait for view of other members as well.
Tanveer Md Masood
(Indispensable)
(361 Points)
Replied 23 August 2012
WELL...SEC.274 BASICALLY DEALS WITH THE DISQULIFICATION OF DIRECTOR AND SUBSECTION 1I G STATES THAT THOSE DIRECTORS OF THOSE COMPANIES WHICH HAS NOT FILED ITS ANNUAL RETURN AND ANNUAL ACCOUNTS FOR THREE CONSECUTIVE FINANCIAL YEARS ARE NOT QUALIFIED FOR APPOINTMENT AS DIRECTOR OF THE COMPANY. THEREFORE, IT IS QUITE APPARENT THAT NON-DISCLOSURE FOR THREE CONSECUTIVE FY MAKES A DIRECTOR DISQUALIFIED FOR REAPPOINTMENT.
REGARDS
TANVEER
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 25 August 2012
Thanks all....
Pls tell me wat are the general matters that can be covered in every board meeting.
Also pls tell me what are the other issues that ought to be discussed in last Board meeting of the financial year.
THESE ARE THE NOTING OF GENERAL MATTERS WHICH ARE DISCUSSED IN BOARD MEETINGS -
DEVELOPMENT INITIATIVES:
Chairman informed the Board about the activities / development which are currently going on in the company. The Board also discussed the current affairs and past activities of the company.
The Chairman discussed with the Board performance, working results and financial position of the company. Various alternatives were explored for the achievement of broad objectives of the company. The same was noted down by the Board.
General Progress of the company and various market surveys were discussed at the meeting. Chairman suggested various proposals regarding the procurement of Plant and Machinery, Supplies, Building materials thereon. The board considered the proposals.
The Chairman placed before the Board the business plans and informed that the Company needs to make capital investment towards the project of the company
CONSIDERATION OF WORKING RESULTS:
The Chairman placed on table the working results for the half year ended on September 2005,and a brief note to buy, prepare, supply, sell and deal in all kinds of goods, apparatus and appliances in connection with all or any of the objects of the Company. The Chairman was fully satisfied about the working performance of the club.
CS. DISHA SHAH
(Properitor of D. M. SHAH & CO. COMPANY SECRETARY)
(394 Points)
Replied 25 August 2012
Hi Shridhi ji,
.
Ya disclosure under section 274 (1)(g) is required yearly,,,
.
N if there is no any other business you can take "Business Status" in which vl discuss the working of Business, its growth n planss etc..
ISSUES WHICH ARE DISCUSSED IN THE LAST BOARD MEETING:
DISCLOSURE OF DIRECTORS INTEREST:
The Chairman placed before the Board, Form No. 24AA as submitted by all the Directors of the Company regarding disclosure of interest, as required under Section 299 of the Companies Act. The Forms were considered by the Board and after due discussion the following resolution was passed:
“RESOLVED THAT the general notices of interest pursuant to section 299(3) of the Companies Act, 1956 received from all the Directors disclosing concern or interest be and are hereby received, considered and adopted”
LETTER UNDER SECTION 274(1) (g) OF THE COMPANIES ACT, 1956;
The Chairman placed before the Board letter representations received or made by all the Directors of the Company under section 274(1) (g) of the Companies Act, 1956. Further, he informed that none of the directors is disqualified to be appointed Director under section 274 (1) (g) of the Companies Act, 1956.
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 25 August 2012
Thank you so much neha.....its a great help
CAclubindia
