Fixing Board Meeting date
Hariom Viradiya (182 Points)
07 October 2020Sec 173(1) Co. should hold Min 4 BM ineach calander year & max gap between 2 consecutive Board Meeting (BM) shall be 120 days
Sec 174(4) says that if at adjourned BM, requisite quorum is not present then meeting stands cancelled.
It is also known that adjourned BM is a continuation of original BM
Scenario : 3 BMs have already been conducted. and 4th BM got adjourned for non fullfillment of quorum. Even at adjourned BM quorum was absent and thus adjourned BM stands cancelled as said in Sec 174(4)
Query :
1. Whether this will get counted as 4th meeting because it is said that adjourned BM is continuation of original BM ?
2. If not, then to meet the requirements of Sec 173(1) of conducting 4 BM in each calander year, Co. will have to conduct fresh BM. Now, from which date should I count 120 days
a. From date on which 3rd BM was held
b. From date on which 4th BM (ORIGINAL) was held ?
My concern is that how to fix next date for BM from, whether from 3rd BM date or from 4th BM date which got cancelled.
Thank you 😊