Annual Return form 7.7 For Company in Word Format

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  1. BOARD MEETINGS UNDER SECTION 173 OF THE COMPANIES ACT 2013
    1. After incorporation of a company, first board meeting has to be held within 30 days.

    2. Four meetings have to be held in a year and gap between two board meetings shall not exceed 120 days. (Earlier 90 days).

    3. Board Meeting can be held by either in person or through audio, video-conferencing government describe few matters which are prohibited to be conduct in audio video conferencing.
    (i) the approval of the Annual Financial Statements;
    (ii) the approval of the Board’s report;
    (iii) the approval of the prospectus;
    (iv) the Audit Committee Meetings for consideration of Accounts; and
    (v) the approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.

    4. A minimum 7 days notice is to be given for a board meeting and it should be either hand-delivery or by post or through e-mail or fax.

    5. A shorter notice can be given provided if at least one independent director is present at such meeting. If independent director is not present at the meeting, then, copy of the proceedings of such board meeting to be circulated among the all the directors and it should be ratified at least one independent director.

    6. If there is a default in providing the notice, every officer (Company Secretary) who is responsible is liable to pay a fine of Rs 25,000 /

    7. One Person Company, Small Company and Dormant Company shall have to convene at least two board meetings in a year and minimum 90days gap is required between two board meetings.

    8. A director who is attending the board meeting either through audio or video shall be counted for quorum for the board meeting.

    9. Quorum of the meeting of the board meeting shall be one third of total strength or two directors, whichever is higher (sec 174)

    10. as per draft rules, that it is compulsory for a director of a company to attend at least one board meeting in person in a year.

    11. Notice of the board meeting shall specify that a director can participate either through audio or video means instead of personal presence.

    12. Directors who want to attend the meeting through video conference or audio means shall communicate his intention at least 3 days before the meeting.

    13. Minutes prepared and signed in such manner as prescribed under sec 118 of companies act 2013

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