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Discussion > Business Law > Corporate > Frequency of holding Board Meetng   Unanswered Threads Post New Topic

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There are 4 Replies to this message


Shubhangi Patil


Management Trainee
[ Scorecard : 111]
Posted On 01 December 2008 at 16:23 Report Abuse

According to section 285 of Companies Act, 1956 a Board Meeting can be held once in 3 mths and 4 meeting at least in each year. A gap of 120 days of holding meeting is given to listed companies

.But in section there is contrary statement that Board Meeting can be held on 1st January, the 30th June, the 1st July and 31st December of year. The Act contemplates that period of 3 mths should be taken to be a unit. Referred in A. Ramaiya 16th edition, 2004

Is this interpretation right of the section 285?

Shubhangi



SHALINI KUMAR


Company Secretary
[ Scorecard : 23]
Posted On 03 December 2008 at 19:17 Report Abuse

According to the Act, the Board Meeting is to be held once in every three months ie one BM in every quarter is sufficient.


So meetings held on 1st January(ist quarter Jan-mar), the 30th June(iind quarter Apr-Jun), the 1st July(third quarter Jul-sep)  and 31st December of year( Fourth quarter- Oct to Dec) are perfectly in consonance with Sec285


Nipun Singhvi


student
[ Scorecard : 27]
Posted On 15 December 2008 at 22:16 Report Abuse

According to DCA clarification issued it is mandatory to hold BM once a quarter hence it is overriding the section as it relaxes the duration


Arbind Kumar


Job
[ Scorecard : 145]
Posted On 20 February 2009 at 00:36 Report Abuse

Board meeting to be in evry quarter of a a year.  but it is also a provison that max duration for two board meeting not be more than six months.


 


PALNITKAR V.V.


Lawyer
[ Scorecard : 10741]
Posted On 20 February 2009 at 10:10 Report Abuse

I do not find any inconsistency. That is an option given to hold meetings on 1st Jan, 30th June etc.



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