(1) A meeting of the Board shall be held not less than once in every three months and at least four such meetings shall be held in every year.
(2) Notice of every meeting of the Board of Directors shall be given in writing to every director for the time being in India, and at his usual address in India to every other director.
(3) The Chief Executive shall give notice as aforesaid not less than seven days prior to the date of the meeting of the Board and if he fails to do so, he shall be liable to a penalty of five thousand rupees:
Provided that a meeting of the Board may be called at shorter notice and the reasons thereof shall be recorded in writing by the Board.
(4) The quorum for a meeting of the Board shall be one-third of the total strength of directors, subject to a minimum of three.
(5) Save as provided in the articles, directors including
the co-opted director, may be paid such fees and allowances
for attendance at the meetings of the Board, as may be
decided by the Members in the general meeting.
------------------
1. Ins. by Act 29 of 2020, s. 52 (w.e.f. 11-2-2021).
Section 378O Number of directors
Section 378P Appointment of directors
Section 378Q Vacation of office by directors
Section 378R Powers and functions of Board
Section 378S Matters to be transacted at general meeting
Section 378T Liability of directors
Section 378U Committee of directors
Section 378V Meetings of Board and quorum
Section 378W Chief Executive and his functions