Hi,
A Public Ltd company failed to conduct minimum of 4Board meetings in a calender year,now is there is any consequences as per the comapnies act?if yes what are those?
2 Replies
jeets
(CS )
(461 Points)
Replied 24 August 2011
There is no special penalty provided for non-compliance with the requirements of this section, under Companies Act,1956.
However the default is punishable under section 629-A
Regards.
CS Shivi Reddy
(COMPANY SECRETARY)
(175 Points)
Replied 24 August 2011
Dear Prashanth,
the default is punishable u/s 629-A. but you can definitely show the meeting in your books for the missing quarter and make gud the default.
Regards
Shivi
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