Company Fails to Hold Minimum Number of Board Meetings Annually; Faces ROC Penalty:

Company Fails to Hold Minimum Number of Board Meetings Annually; Faces ROC Penalty The Registrar of Companies (ROC), Himachal Pradesh, has passed a penalty order against a company for violating Section 173(1) of the Companies Act. The company, Tidong Power Generation Private Limited, held only three board meetings in the calendar year 2023 before 31.12.2023. However, Section 173(1) of the Companies Act requires every company to hold its first meeting within 30 days of incorporation, and a minimum of four meetings must be held annually, with a gap of 120 days between any two consecutive meetings.

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