Board Directors Meeting Minutes For Private Limited Company In Queens
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Rule 4 – Matters NOT to be dealt with in a meeting through video conferencing or other audio visual means. the approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover.
Board meeting minutes are an objective record of what took place during a board meeting. The minutes are typically used for internal purposes like record-keeping and for posterity. Minutes can serve to inform future meetings and recall what was discussed, agreed upon or dismissed by a company's board members.
They are also called protocols. These minutes are a written record of all official and influential gatherings of a company. Minutes are a brief account of all the happenings and the attendees of the gathering. It is usually the company secretary, in general, who is responsible for the maintenance of the minutes.
Every company must hold its first board meeting within thirty days of its incorporation. Thereafter, a minimum of four board meetings must be held each year, with a maximum gap of 120 days between two consecutive meetings.
Company Minutes are a written document of discussions and agreements of a formal directors meeting. Limited Companies must keep records of these meetings.
(1) Every company shall cause minutes of the proceedings of every general meeting of any class of shareholders or creditors, and every resolution passed by postal ballot and every meeting of its Board of Directors or of every committee of the Board, to be prepared and signed in such manner as may be prescribed and kept ...
Minutes are not supposed to be verbatim and including too much detail may only provide ammunition that may be used against the board in a lawsuit. However, with too little detail the minutes may be useless and may leave an impression that the board did not adequately consider one or more matters.
The agenda provides information on the order in which topics will be discussed. An agenda should be circulated in advance to everyone attending the meeting. Minutes are a written record of a meeting. They are instant and describe the discussion and decisions of the meeting.
In the case of a private company regardless of the number of members, two members must be present for the quorum to be met for a meeting.
As per Section 173 of the Act, all public and private companies are required to hold a minimum of four board meetings in a calendar year. Any contravention of the section may result imposition of penalties by the ROC.
