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 a Board Meeting to note the address of the registered office of the Company and record the same. Furthermore, they also have to intimate the same to the Registrar of Companies (ROC).
Hence, all the communications in the future will be done at the registered Company Address. Moreover, all formal documents should mention the registered address of the company. In case there is a change in the address of the registered office, the same has to be intimated to the ROC.
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.
– Location of the office with the Registrar of Companies (RoC) where the records of the company are stored
– Determination of domicile of a company for law-enforcing authorities and general public
– Area limit for holding annual general meetings
– Applicability of duty as per relevant Stamp Act for stamping on memorandum and articles of association, share and debenture certificates, etc
– Determination of jurisdiction of the Court in a company
– Inspection of registers and records as provided under the Act
As per Section 12, the name and address of the registered office should be displayed conspicuously at the location of registered office and every other office, engraved on its common seal and printed on letterheads, bills, notice, etc. In case the company has a website for conducting business online, the registered office address should be given on the said website.
In case any default is made under Section 12, the company and every officer who is in default shall be liable to a penalty of INR 1,000 for every day during which the default continues. The penalty amount can account for up to INR 1L after which a serious action will be taken against the company.