Board Meetings: First Directors

A board meeting is a formal gathering of a Board of Directors. Most of the organizations, being public or private, profit or non-profit, are ultimately governed by a body commonly known as Board of Directors. The members of this body cyclically meet to discuss strategic matters.

A Company has to convene the first Board Meeting within 30 days of Incorporation. The notice issued to the Directors to convene the first Board Meeting must mention that its the first Board Meeting of the Company. Below mentioned are some of the transactions that take place in the First Board Meeting:

The notice and the agenda of the Board Meeting to be prepared and issued to every Director at their registered address at least 7 days before the date of the meeting.

Moreover, a Board has to record the note of the Appointment of First Directors of the Company in the First Board Meeting.

Thus, review your Board Meeting Minutes immediately after the meeting. When your board meeting minutes are complete and finished, make sure they are distributed to board members as soon as possible. Once the minutes are approved by a vote of the members during the board meeting, they become part of the official record of the organization. It’s important that a copy of all minutes are kept in one place.

Download Meeting Minutes
Download Sample Board Meeting for Appoinment of First Directors
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Download Meeting Minutes
Download Sample Board Meeting for Appoinment of First Directors
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FAQs

Can a Board Resolution be signed by one director?

Yes. A Director can sign a resolution if he is authorized by the Board.

What is the time gap between two Board Meetings?

The Audit Committee should meet at least four times a year. The maximum Gap between 2 Meetings is 4 Months. 2 Directors are to be present at the Meeting.

Can a person be appointed as Director without a Director Identification Number (DIN)?

As per section 152(3) of the Companies Act, 2013, no person shall be appointed as Director of the Company unless he has been allotted a DIN u/s 154 of the Act.

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