Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
The general rule
A company must hold at least four board meetings each year, ensuring the gap between any two does not exceed 120 days. Each meeting needs proper notice, quorum, and recorded minutes, which are signed and kept in the minutes book — the legal record of the board’s decisions.
Relief for startups and small companies
Small companies, OPCs and DPIIT-recognised startups get a concession: they may hold just two board meetings a year — one in each half — with at least a 90-day gap between them. This is part of the broader startup compliance relief. The minutes requirement still applies. Confirm current eligibility for the relaxation.
Why minutes matter — an example
Example: a startup board approves an ESOP grant and a bank loan at a meeting — the minutes record these decisions, and auditors, investors and the bank rely on them. Decisions taken without a recorded resolution can be questioned later. Keeping proper minutes is both a legal duty and practical protection. Our team can maintain your board minutes and resolutions.