Meeting of Board and its powers

 Every Company shall hold its Board Meeting including One Person Company

 1 st Board Meeting should be held within 30 days from its Incorporation.  Thereafter Minimum 4 Board Meetings should be held every year with a maximum gap of 120 days between two meetings.

 At least One Board Meeting in every 6 months with a minimum gap of 90 days between two meetings.

 By person  By Video Conferencing  By other audio visual means

 Approval of the annual financial statements;  Approval of the Board’s report;  Approval of the prospectus;  Audit Committee Meetings for consideration of accounts; and  Approval of the matter relating to amalgamation, merger, demerger, acquisition and takeover

 Minimum 7 Days before the Board Meeting.  To every director at his Registered Address by hand delivery or by post or by electronic means.  Shorter Notice may be given but at least one Independent Director should be present at the meeting, if pubic company.  If Independent director is not present then the decision taken should be circulated to all directors and such decision shall be final only if it is approved by independent director.

 1/3 rd of total director or two, whichever is higher.  Participation by director by video conferencing and by other audio visual means shall be counted as quorum.  If the no of Interested Directors exceeds/equal to 2/3 rd of total Directors then the quorum should be two which are not interested.