Procedure for Conducting a Board Meeting
• Every company shall hold the first meeting of the Board of Directors within thirty days of the date of its incorporation and thereafter hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than one hundred and twenty days shall intervene between two consecutive meetings of the Board.
Audit Committee under Companies Act 2013 & Listing Regulations
Audit Committee is required to be constituted under Section 177 of the Companies Act, 2013 read with Rule 6 of the Companies (Meetings of Board and its Powers) Rules of 2014 as well as SEBI (LODR) 2015. An audit committee is a governing body responsible for overseeing financial reporting and ensuring compliance with statutory audit requirements. Its primary duties include promoting accountability, ensuring adherence to regulatory standards, and facilitating transparent financial disclosures.
Procedure for the Appointment of Company Secretary
Company secretary or secretary means a company secretary (CS) as defined in clause (c) of sub-section (1) of section 2 of the Company Secretaries Act, 1980 who is appointed by a company to perform the functions of a company secretary under this Act
Procedure for Resignation of Director
A director may resign from his office by giving a notice in writing to the company and the Board shall on receipt of such notice take note of the same and the company shall intimate the Registrar in Form DIR-12 and shall also place the fact of such resignation in the report of Directors laid in the immediately following general meeting by the company. [Section 168 (1) of the Companies Act, 2013]
Procedure for Appointment of Director in case of Casual Vacancy
• Section 161(4) of the Companies Act, 2013 provides that if the office of any director appointed by the company in general meeting is vacated before his term of office expires in the normal course, the resulting casual vacancy may, in default of and subject to any regulations in the articles of the company, be filled by the Board of Directors at a meeting of the Board [which shall be subsequently approved by members in the immediate next general meeting]. Also any person so appointed shall hold office only up to the date up to which the director in whose place he is appointed would have held office if it had not been vacated.
Procedure for the Appointment of Alternate Director
An Alternate Director is appointed if a Director is absent for period of not less than three months from India. He acts in place of the Original Director and shall hold office for the period permissible for the Director in whose place he has been appointed.
Procedure for Appointment of Director
Section 149 of the Companies Act 2013 provides that every Company shall have a Board of Directors
Procedure for Declaration & Payment of Dividend
Dividend, inclusive of interim dividend, is an equal distribution of profits of the company amongst its shareholders from the investments made by such shareholders in the share capital of the company
Procedure for Declaration and Payment of Interim Dividend
As per Section 2(35) of the Companies Act, 2013, the term dividend” includes any interim dividend. The Board of Directors of a company may declare interim dividend during any financial year or at any time during the period from closure of financial year till holding of the annual general meeting out of the surplus in the profit and loss account or out of profits of the financial year for which such interim dividend is sought to be declared or out of profits generated in the financial year till the quarter preceding the date of declaration of the interim dividend.
Procedure for Right Issue of Equity Shares by a Private/Public Limited Company
• Where a company having share capital proposes to increase its subscribed capital by issuing further shares, such shares shall be offered to the existing equity shareholders of the company in proportion to the paid-up share capital of those shares by sending letter of offer.