Companies Act 2013 Board & Commissions meetings

Meeting of the Board:

Pursuant to the provisions of Section 173 of the Companies Act, 2013

First meeting of the

The first meeting of the Board of Directors should be held within 30 days of the date of incorporation of the Company.

Subsequent meeting

Minimum 4 Board meetings should be held within one year.

There should be no gap of more than 120 days between two consecutive meetings of the Board.

One-Person Company (OPC), Dormant Company and Small Company

At least 1 meeting of the Board of Directors should be held in each half of the calendar year.

The difference between the two meetings should not be less than 90 days.

Meeting of the shorter notice

If the meeting of the Board of Directors is required to be called in a shorter time than the following conditions must be met:

If the company is obliged to have an independent director,

At least one independent director shall be present at the meeting.

If the independent director is not present, the decision to be taken at the meeting shall be circulated among all directors and the decision taken by circulation shall be effective when ratified by at least 1 independent director.

If the company does not require an independent director,

The meeting may be called in a shorter time without any conditions to be met.

Requirements and procedures for the convening and holding of meetings of the Board:

Directors may participate in the meeting either in person or by video conferencing or by other audiovisual means, and the same shall be stated in the notice of the meeting sent to the directors.

However, there are certain issues that cannot be dealt with at a meeting through video conferencing or other audiovisual means.

The following restrictions were prescribed in accordance with Rule 4 of the Rules of Procedure of the Companies (Meetings of the Board and its Power) 2014.

The approval of the annual accounts
Approval of the Report of the Board
Acceptance of the prospectus
Meetings of the Audit Committee to consider the accounts
The approval of the matter relating to mergers, mergers, demergers, acquisitions and acquisitions

In addition, Rule 3 of the Companies' Rules of Procedure (Meetings of the Board and its Power) of 2014 lays down the requirements and procedures to be complied with or followed for the meeting of the Board of Directors by means of video conferencing or other video-visual means to be dealt with in the next article.

Thanks for Reading, Hope that this article will help.

Now prepare smartly for CS EXECUTIVE with our CS Executive Course Via.. CS Executive online lectures Learn direct from your home/office. We here at Takshila Learning provide you the CS Executive Video Lectures, CS Executive Pen drive Classes along with CS Executive STUDY MATERIAL 2021 and CS Executive New Syllabus Study Material to help you prepare for your CS Executive Exam with the utmost ease.

Visit Takshila Learning for More Information About CS Executive Course

Call at 8800999280 / 8800999283 / 8800999284

Lessons-Worksheets-Question Papers-CBSE Class 2 English

Lessons-Worksheets-Question Papers-CBSE Class 2 English CBSE 2nd Class English – One and Many In this blog, we share the spelling rules used in the concept of One and Many. When there is only one of a naming word (noun), it is said to be a singular noun . When a noun shows more than one, it is said to be in the plural . We can add –S, -es, -ves or ies to show that there is more than one noun. For example, we say many birds, four biscuits, six brushes. But for the students of Class 2 , it’s very difficult and confusing to understand where to use s , es, ves or ies in the form of many. Don’t worry, it looks difficult, but it is very easy as in grammar each concept has a set of rules that need to practice. Noun ending with –s, -x, -o, -sh, -ch, and –ss form plurals by taking –es. Look at these pairs of words: Bus – Buses Brush – Brushes Continue ..... Click here ...

Class 3 English Practice Grammar Worksheet -The Adverb

Class 3 English Practice Grammar Worksheet -The Adverb Class 3 English – The Adverb – Kinds of Adverb Fill in the blanks with suitable Adverbs of place. Choose from the box. Up outside everywhere back down away here there ...

PURCHASED GOODWILL METHOD UNDER IND AS 103

The acquisition of subsidiaries results in Goodwill calculation and also records net assets of the subsidiary at fair value on the date of acquisition. Let’s get answers to all the questions related to Goodwill, valuation of NCI, and impairment relating to them. Q1 – What are the ways in which an entity can make payment for purchase consideration? ANS: – Cash – Share exchange – Deferred payment – Contingent consideration Q2 – How is deferred payment dealt, when it forms part of purchase consideration? ANS: The deferred payment is discounted to present value and included in the cost of consideration. At the end of each year, the liability is increased by unwinding the discount, until the payment is settled. For example, An amount of Rs. 108,000 was deferred to be paid after 2 years. The discount rate applicable is 8%. The net present value today of Rs. 108,000 is equal to (108,000 * 1) / (1.08) ^2)= Rs. 92,593 included in purchase consideration. A liability of Rs. 92,59...

Takshila Learning - Online Tutorials

Search This Blog