Can any one clarify that Board Meeting to be held between AGM to AGM or financial year?
Board Meetings
sairam (Charterad Accountants) (42 Points)
07 December 2009
17 Replies
MOHIT MAHAJAN
(LCS, ACA)
(2050 Points)
Replied 07 December 2009
Board meeting should be held once in every 3 months and at least 4 meetings should be held in a year. If 4 meetings are held in a calendar year and one in each quarter, the time gap between 2 meetings may exceed 3 months. ( Maximum Gap between two meetings as per clause 49 of listing agreement is 4 months)
sairam
(Charterad Accountants)
(42 Points)
Replied 07 December 2009
Dear Mohit,
As per you Information the Board Meeting to be held between financial year?
Sairam
MOHIT MAHAJAN
(LCS, ACA)
(2050 Points)
Replied 07 December 2009
Its calendar year i.e. between January to December
CA.SKR
(CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional)
(442 Points)
Replied 07 December 2009
I agree with Mohit Mahajan.
Ansari
(ca final)
(444 Points)
Replied 07 December 2009
| Originally posted by :CA.Satendar Kumar | ||
| " | I agree with Mohit Mahajan. | " |
NANDINI MASAND
(learner )
(330 Points)
Replied 07 December 2009
i wud like 2 add in above mentioned statement that Board meetin shud b held in each quarter bt gap beween 2 AGM may b 15 month...............
NARENDER PAWAR
(CA final Student)
(337 Points)
Replied 08 December 2009
board meeting can be conducted between january to december in each calender year
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 08 December 2009
The simple rule is that you should have atleast one board meeting every quarter. If one meeting is on 1st jan, the next can be on 30th June. Min. 4 Meetings in a year.
Airody Manjunatha Alse
(ca)
(100 Points)
Replied 08 December 2009
The board meeting of the company should be held in every quarter, atleast 4 meeting in a year. Since the financial year of the company is April to march and the purpose of the meeting is to discuss about the business transaction, it must be the financial year.
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 08 December 2009
Mohit is correct..
SREEKUMAR.K
(Junior Audit Manager)
(28 Points)
Replied 09 December 2009
285. Board to meet at least once in every three calendar months
[285. Board to meet at least once in every three calendar months
In the case of every company, a meeting of its Board of directors shall be held at least once in every [three months and at least four such meetings shall be hold in every year].
So what Mohit said is absolutely right. Here year denotes calendar year.ie from Jan to Dec.
CS Snehal
(Compliance Manager)
(346 Points)
Replied 09 December 2009
Adding to Rashesh's point, if the company is listed then the gap between 2 board meetings cannot exceed 4 months.
riddhi
(student)
(746 Points)
Replied 10 February 2010
wat r d consequences for not holding 1 bm per quater
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 10 February 2010
| Originally posted by : riddhi | ||
 |
wat r d consequences for not holding 1 bm per quater |
 |
Though there is no penalty for non-compliance of Section 285 but the offence of this section is punishable under Section 629A.
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