1.In case of a one person company with only one director on the board. Then provisions of section 173 of the 2013 act are not applicable to such one person company directors.
Hold a meeting of a one person company directors
2. If the one person company has more than one director. The company should hold at least one meeting of the board. In each half of a calendar year.
3. If only two meetings are held in a calendar year. The gap between two meetings should be atleast 90 days. If more than two meetings are held in a calendar year. Then the gap between the first. The last meeting held in the year should be at least 90 days. The one person company registration may register with that one director.
4. How to hold a meeting of your board of directors of a company. Which is not a one person company or small or dormant company ?
5. Ensure notice in writing of at least 7 days before. The meeting is given to every director of an one person company.
6. Notice may be given by hand or courier or post or by electronic means.
7. Every officer in a company who fails, they will be punishable with fine of Rs. Twenty Five Thousand as per section 173 (4) of the 2013 act. This offence is compoundable by the regional director or any officer authorised by the central government. Under section 441(1) (b) of the 2013 act (Yet to be notified).
8. Every director of your company who is in any way concerned or interested in a contract or arrangement of the company should disclose. The nature of his/her concern or interest in the meeting of their registration. Where approval of the board is necessary.
9. Interested directors however can take part in the discussion or vote on any contract or arrangement. The company registration and incorporation services of one person company may takes placed in Chennai.
10. Keep the minutes of the previous board meeting ready for signing by the chairman of this meeting. If the same company name registration is already signed by the chairman of the said meeting.
11. If the company is a dormant company then follow the procedure given below. If the dormant company is a public limited company. The interested directors will not be entitled to participate in the discussions at the board meeting.
Hold a meeting of the committee of directors or a board of directors of a producer company
1.When your producer company is holding a meeting of its board of directors keep in mind the following :
(a) Ensure that a meeting of the board of directors is held not less than once in every three months. At least four such meetings are held in every year.
(b) Give the notice of the board meeting in writing to every director of your company for the time being in Chennai. Every other directors at his usual address in Chennai, India.
(c) The chief executive of your company gives the notice as aforesaid. It not less than seven days prior to the date of the meeting of the board of directors. If he fails to do so. He shall be punishable with fine of Rs.1000.
(d) If your company wants to call a board meeting at a shorter notice. It can be so called in the manner above their company registration. But then ensure that the reasons for doing. So are recorded in writing by the board of directors of your company.
(e) Ensure that the quorum of the meeting of the board of directors is one-third of the total strength of your company directors. The subject to a minimum of three directors. The registration of your one person company have one director.
(f) Pay to the directors, including the co-opted directors, such fee and allowances for attending. The meetings of the board as decided by the members of your company in the general meeting. The subject to the provisions made in the articles of association of your company.
2. When your producer company is holding a meeting of its committee of directors keep in mind the following :
(a)The board of directors may constitute such member of committees. As, it may deem fit for the purpose of assisting it. In the efficient discharge of its functions.
(c) Co-opt as members of the committee such number of persons as the committee constituted as above deems fit with. The approval of the board of directors of your company.
(d) Make the chief executive of your producer company. A director of it as a member of such committee.
(e) See that every such committee functions. Under the general superintendence, direction and control of the board of the one person company directors of your registration company. Such duration, and in such manner as the board may direct.