Input credit time limit in case of import bill of entry. Every company shall prepare a minutes of every meeting as per sec 193 of companies act 1956 2. The curious case of section 4 7 of the companies act, 1956 this issue is of paramount importance for foreign companies having majority shareholding in. The board discussed and decided to keep the minutes in the loose leaf form and bind it periodically as deemed fit and thus the following resolution was passed. Minutes of first board meeting corporate law forum. Inspection of minute books of general meetings companies act, 1956. The minutes have not been defined under the companies act.
Minutes of the extra ordinary general meeting otr tiie. The chairman informed the board that the company has to keep the minutes of the proceedings of the board and general meetings of the company in compliance with the provisions of companies act, 1956. The companies act, 1956 contains several provisions regarding meetings. Section 193 in the companies act, 1956 indian kanoon. Short title, commencement and extent 1 this act may be called the companies act, 1956. Every company shall cause minutes of all proceedings of every general meeting and of all proceedings of every meeting of its board of directors or of every committee of the board, to be kept by making within 2 thirty days of the conclusion of every such meeting concerned, entries thereof in books kept for that purpose with their pages consecutively numbered. Various types of companies under companies act, 195611. Section 193 minutes of proceedings of general meetings and of board and other meetings.
Section 195 presumptions to be drawn where minutes duly drawn and signed. In respect of a meeting convened but adjourned for want of quorum that fact should be recorded in the minutes of such adjourned meeting. Explore the companies act 20 and companies act 1956. Full text containing the act, companies act, 1956, with all the sections, schedules, short title, enactment date, and footnotes. All about minutes under section 118 of companies act 20 taxguru. Each page of every such minutes books must be initialed or signed and last page. General meetings kinds of company meetings duties of the. Presumptions to be drawn where minutes duly drawn and signed. It is important to keep in mind that the items contained under section 316 and section 386 of the companies act, 1956 requires a specific notice and cannot be discussed under any other business. A distinct minutes book shall be maintained for meetings of the. Companies act, 1956 bare acts law library advocatekhoj. The curious case of section 4 7 of the companies act, 1956.
Publication of reports of proceedings of general meetings. Companies act, 1956 arrangement of sections part i preliminary sectionpage 1. The minutes are to be signed in accordance with the provisions of section 193 of the companies act. The board should meet at least once in every three months, with a maximum interval of 120 days between any two meetings such that at least four meetings are held in each year. A company may maintain its minutes in physical or in electronic form with.
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