Board Meeting Minutes

Board Meeting Minutes

    About Service
The objective of Companies Act, 2013 to a large extent is to ensure good corporate governance by enhancing transparency and accountability. Therefore, it is now mandatory to circulate draft minutes (by hand, post or electronically) to all directors for their comments within fifteen days from conclusion of the meeting.Minutes of the Board Meeting are a tangible record of the meeting for its participants and a source of information for members who were unable to attend. The minutes of a board meeting try to capture the essence of the meeting by including details such as decisions made (motions made, votes etc.), next steps planned and identification and tracking of action items. In some cases, meeting minutes can also act as a reference point. The minutes should be entered in the minute book within thirty days of the meeting and no alteration is allowed thereafter
 Timeline: 3-5 Working days
 Package Inclusions
  • Board Meeting Minutes in the proper format on th eLetter Head of the Company
 Documents Required
  • Letter Head of the Company
  • Minutes of the Meeting
  • ID proof- All Directors
  • Address Proof- All Directors
  • Address Proof of the Registered Office of Company
 Process Details
  • A Company should have atleast four board meetings in a year, atleast one in every quarter. Quoram of 1/3rd or 2 directors, whichever is greater should be present in the meeting. The minutes of the meeting need to be logged and the signed minuted need to be maintained at the registered office of the company.
 Key Advantages
  • Legal protection- They are considered legal documents by auditors, the Internal Revenue Service and courts. 
  • Drives action- Good meeting minutes help drive a plan of action for your leadership team and employees. They clarify how, when, why, and by whom decisions were made.
  • Measuring stick- Minutes record meeting decisions, which makes them a useful review document to measure progress. 
  1. Why are board meetings necessary?
    A company is an artificial person who acts through human agents who manage the affairs of the company. The Board of Directors are the persons responsible for the management of the company and so it is important for them to meet at regular intervals and take major decisions for the company.
  2. How frequently must the board meetings be conducted?
    There must be four meetings in a year, at least once every three months.
  3. How to provide notice for board meeting?
    Notice of the board meeting shall be given in writing to all the directors of the company. However, there is no time limit or mode provided. In case the meeting is held without giving notice to the directors, then it would be invalid. But if all the directors attend it and no one objects to the absence of notice, then it will be valid.
  4. When and where should a board meeting should be conducted?
    There is no restriction as to time and place of board meeting. However, the Articles of Association can put specification of time and place for board meeting.
  5. What is quorum?
    Quorum is the minimum number of directors required to be present at the board meeting. It is usually one-third of the total strength of the directors or two directors, whichever is higher.

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