Private limited company- regulatory compliance

We have one Private Limited Company . It has 2 share holders. Both are Directors. No MD.

Act requires periodical shareholder and board meeting. eg adoption of audited accounts.

Single meeting -could it be treated as shareholders and board meeting as well OR to prepare Notice, mInutes separately.

Kindly guide

Reply Follow

3 Replies

Harish varun 28 October 2024

To stay compliant with the Companies Act, 2013, it’s best for a private limited company registration to treat Board Meetings and Shareholders' Meetings (General Meetings) as distinct events, even if they're held back-to-back on the same day. Each has its purpose—Board Meetings focus on internal decisions like approving financials, while Shareholders' Meetings involve adopting these accounts. For simplicity, you can schedule them consecutively, but it’s wise to prepare separate notices, agendas, and minutes for each. This approach ensures clarity in documentation and meets legal standards, especially if any details are reviewed later

Jayanta Bandyopadhyay 28 October 2024

Many thanks.

Since there are only 2 shareholders and exclusively both being Directors and in Father - Son relationship, can we issue separate notice & prepare MOM with different time slot on same day. But overall single meeting.

In reality, no meeting takes place. Only documentation part.

Is it okay?

Harish varun 28 October 2024

Yes, you can issue separate notices and prepare separate minutes for both meetings, even if they are scheduled on the same day with different time slots. This approach will keep the documentation compliant with the Companies Act, 2013, while allowing both meetings to be held consecutively.