A BRIEF SLIDE ON SECTION 173 OF COMPANIES ACT, 2013 -BOARD MEETING, PROVISION, PENALTY ROLE OF INDEPENDENT DIRECTOR.

1. THE COMPANIES ACT, 2013
SECTION 173
BOARD MEETING
BY: ABHISHEK KYAL
(C.S. FINAL)

2. MEETING OF BOARD
SECTION 173(1)
• EVERY COMPANY shall holds the FIRST BOARD MEETING of the
Board of Directors (BOD) within 30 Days from the date of
incorporation. And THEREAFTER
• Hold minimum of 4 meeting of BOD every year.
• There should not be a gap of more than 120 days between the two
meetings.
• CENTRAL GOVERNMENT by notification exempt certain class of
companies

3. (2) BOARD MEETING can be held through:
Video conferencing
Other audio visual means (govt. may specify certain matters which shall not be dealt through
video conf.)
Person to person
Or as may be prescribes and capable of being recorded along with date and time.

4. Board
meeting
sec. 173.
EVERY
COMPANY Provided, in absence of independent director from such
a meeting of the board, the decision taken shall be circulated
to all the director and shall be final only on ratification thereof
by at least one independent director.

5. • (4) Every officer of the co. whose duty is to give notice under this section fails,
₹25,000/- penalty
• (5) A One Person Company (OPC) {if there is only 1 director in BOD}, small co. and
dormant co. shall be deemed to have been complied with the provisions of this
section if at least One Meeting of BOD has been in each half a calendar year and
gap of the meeting is not less than 90 days.

6. THANK YOU