THE COMPANIES ACT, 2013SECTION 173

BOARD MEETING

BY: ABHISHEK KYAL

(C.S. FINAL)

MEETING OF BOARD

SECTION 173(1)

• EVERY COMPANY shall holds the FIRST BOARD MEETING of the

Board of Directors (BOD) within 30 Days from the date of

incorporation. And THEREAFTER

• Hold minimum of 4 meeting of BOD every year.

• There should not be a gap of more than 120 days between the two

meetings.

• CENTRAL GOVERNMENT by notification exempt certain class of

companies

(2) BOARD MEETING can be held through:

Video conferencing

Other audio visual means (govt. may specify certain matters which shall not be dealt through

video conf.)

Person to person

Or as may be prescribes and capable of being recorded along with date and time.

Board

meeting

sec. 173.

EVERY

COMPANYProvided, in absence of independent director from such

a meeting of the board, the decision taken shall be circulated

to all the director and shall be final only on ratification thereof

by at least one independent director.

• (4) Every officer of the co. whose duty is to give notice under this section fails,

₹25,000/- penalty

• (5) A One Person Company (OPC) {if there is only 1 director in BOD}, small co. and

dormant co. shall be deemed to have been complied with the provisions of this

section if at least One Meeting of BOD has been in each half a calendar year and

gap of the meeting is not less than 90 days.

THANK YOU