As per Section 173 of the Companies Act, 2013, every company (other than One Person Company, Small Company, and Dormant Company) shall hold a minimum of four meetings of its Board of Directors every year in such a manner that not more than ___________ shall intervene between two consecutive meetings.

Solution

This provision is governed by Section 173(1) of the Companies Act, 2013 . 1. The Statutory Requirement: The Act mandates the frequency of Board Meetings to ensure active governance. It states:

• First Meeting: Must be held within 30 days of the date of incorporation.
• Subsequent Meetings: A minimum of four meetings must be held every year.
• Maximum Gap: The interval between two consecutive Board meetings shall not exceed 120 days .

2. The Logic: The "120 days" rule ensures that the Board meets roughly once every quarter, but provides enough flexibility so that a meeting doesn't have to be on the exact same date each quarter. 3. Exceptions (Section 173(5)): For a One Person Company (OPC) , Small Company , Dormant Company , or a Start-up Private Company (exempted via notification):

• They are required to hold at least one meeting in each half of a calendar year.
• The gap between the two meetings must be not less than 90 days .

Summary Table of Board Meeting Timelines