NOTICE OF BOARD MEETINGS

1. INTRODUCTION

The manner in which we run executive gatherings says much in regards to how we run the organization.
Fruitful organizations utilize executive gatherings to make and enhance key business procedures. The
directorate of an organization is principally an oversight board. It supervises the administration of the
organization to guarantee that the intrigue of non-controlling investors is ensured. It additionally works
as warning board. Free directors bring differing information and mastery in the board room and the CEO
utilizes the information pool in tending to issues being looked by the organization. The most vital
capacity of an observing board is to give guidance to the organization. Another vital capacity of a
checking board is to set the 'tone at the best'. It is required to make the correct culture inside the
organization.

A gathering might be by and large characterized as a social event or get together or getting together of
various people for executing any legitimate business. There must be atleast two people to comprise a
gathering. In this way, one investor, for the most part, can't establish an organization meeting regardless
of whether he holds intermediaries for other investors. Be that as it may, in certain extraordinary
conditions, even one person may establish a gathering. It is to be noticed that each social occasion or
gathering does not establish a gathering. Organization gatherings must be assembled and held in
idealize consistency with the different arrangements of the Companies Act, 2013 and the rules confined
thereunder. An organization is made out of persons; however, it has its own substance unmistakable
from persons. The persons from the organization are the people who, until further notice, comprise the
organization, as a corporate substance. In any case, an organization, being a fake person, can't follow up
on its own. It, along these lines, communicates its will or takes its choices through goals go at
legitimately held Meetings. The main role of a Meeting is to guarantee that an organization gives
sensible and reasonable chance to those qualified to take an interest in the Meeting to take choices
according to the recommended methodology.
 2. BOARD MEETINGS

Section 173 of the Act deals with Meetings of the Board and Section 174 deals with quorum.

1. The Act provides that the first Board meeting should be held within thirty days of the date of
incorporation.

2. In addition to the first meeting to be held within thirty days of the date of incorporation, there shall
be minimum of four Board meetings every year and not more one hundred and twenty days shall
intervene between two consecutive Board meetings.

In case of One Person Company (OPC), small company and dormant company, at least one Board
meeting should be conducted in each half of the calendar year and the gap between two meetings
should not be less than Ninety days.

First Meeting of Board of Directors inside 30 days from the date of Incorporation of the organization.
Subsequent Meetings are done by the One person Company, Small organization, and Dormant
organization:

 No less than one gathering of Board of directors in every 50% of logbook year
 Least Gap B/W two gatherings somewhere around 90 days.

Directing First Board Meeting of Company

After joining an organization, the principal executive gathering of the organization must be held inside
30 long stretches of a fuse. In this article, we take a gander at the methodology for leading the primary
executive gathering of the organization alongside the rundown of things that must occur in the
executive gathering.

Notice for First Board Meeting

Preceding leading the principal executive gathering, notice of executive gathering must be given to the
Directors of the organization. The notice issued to executives must say that it is the principal executive
gathering of the organization. Likewise, if the articles of relationship of the organization accommodate
holding of the load up meeting on a predefined date or time, at that point such prerequisites should
likewise be satisfied.

Exchanges in First Board Meeting

The accompanying business must be executed in the principal executive gathering of the organization:

• Election of Chairman for the Board Meeting

• Appointment of Chairman of the Board of Directors

• Noting of MOA of the Company as enlisted

• Noting of AOA of Company as enrolled

• Noting of first Directors of the Company

• Noting of Certificate of Incorporation of the Company

• Noting of exposure of enthusiasm of Directors

• Appointment of Company Secretary, if pertinent

• Appointment of the primary Auditor of the Company who will hold office until the point when
the finish of the main yearly broad gathering

• Adoption of the normal seal of the organization, not required

• Adopt enlisted office of the organization and document important structures with the MCA, if
not finished

• Approve opening of financial balance for the sake of the organization

• Allotment of offers consented to be taken according to the MOA endorser sheet

• Approve printing of offer endorsements and issuance of offer authentications

• Approve the announcement of primer costs caused by the promoters

• Provide headings to buy corporate stationery

• Authorise the Board to take credits or make speculations

• Decide on the date, time and place of next Board Meeting

Other than Companies specified previously:

 Least No. of 4 gatherings of Board of Director in a log book year

 Most extreme Gap B/W two gatherings ought not to be progressively the 120 days.
Meeting of Board of Director ought to be called by giving 7 days notice to Directors at his enlisted
address through:

1. By hand conveyance
2. By post
3. Electronic means

The majority in Board Meeting is generally held as 1/3 rd of aggregate quality OR 2 Directors, whichever
is higher. Where a meeting of Board couldn't be held for the need of majority, the meeting will
consequently dismiss to the same time, the same place at one week from now (Not being national
occasion). On the off chance that the number of executives decreased beneath majority, at that point
the rest of the directors may hold the gathering for the accompanying purposes:

To assemble a General conference

Increment the number of directors.

The majority in the event of Interested Directors:

Whenever intrigued chief surpasses or equivalent to 2/3 of aggregate quality the rest of the executives
not being under 2 will be the majority.

Meeting at shorter Notice: A gathering of Board of Directors can be called by shorter notice subject to
the conditions:

On the off chance that the organization is required to have free executive:

– Presence of no less than one Independent chief is required.

– if there should be an occurrence of nonappearance, the choice taken at such gathering will flow to
every one of the executives, and
– will be last just on sanction thereof by no less than one Independent Director

On the off chance that the organization doesn't require to have autonomous executive: The gathering
can be called at a shorter notice with no conditions to be followed.