DETAILS ABOUT COMPLIANCE CALENDAR AND BOARD MEETINGS

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DETAILS ABOUT COMPLIANCE CALENDAR AND BOARD
MEETINGS
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A firm or a business house should be in total
compliance with the federal rules and regulations
that apply to them. A compliance calendar is just
the thing to help you out. A compliance calendar
helps to keep track of all the necessary details
about the company like due dates, required
filings, information, tax payments, permit or
license renewals and more. It is advisable to
update the compliance calendar for the latest
month and be saved from trouble. A single
compliance calendar may not suit all business, so
it is important to collaborate with a service
that will help to develop individual compliance
calendar.
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Board meeting under the Companies Act In the
year of 2013, 30th August the Companies Bill act
was changed to Companies Act. The Board of
Directors is the most powerful body which governs
the Corporate governance in a company. The
Companies Bill act of 2012 dictated with Board
meetings and the power of that governing body.
The Board meeting under the Companies Act 2013 is
discussed shortly below
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- Participation The Directors need to
participate through video conferencing or be
present in person. - Notice The Board meeting
should be called by a handwritten a notice to all
the Directors at their own registered addresses.
The notice should be sent by post, electronic
means or delivered by hand. - The quorum for a
Board meeting According to the rules, the quorum
should consist one third of the total strength
of Directors. - The quorum for Interested
Directors Just in case, interested directors
exceed two third, then the number of directors
who are not interested shall be the quorum
subject to at least two directors present in the
meeting.
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- Absence of Quorum If the board meeting is
adjourned for quorum the automatically, the next
meeting is supposed to be held on the same day
and time in next week. - Passing of Resolution
by circulation The passing of the resolution is
the same to that of the notice. It should be
circulated in the draft with all necessary
documents to all directors. - Secretarial
Standard Each company shall comply by the
secretarial standards with respect to the Board
meetings that is specified by the Institute of
Company Secretaries of India.