Skip to content

CA Intermediate · Corporate and Other Laws · Management & Administration

Gaurav is the Company Secretary of Lotus Foods Ltd. The minutes of a Board meeting held on 10 June were signed by the Chairman on 25 June, within 30 days of the meeting. Which statement is correct under the Companies Act, 2013 and Secretarial Standards?

Minutes must be entered in the minute book within 30 days of the meeting and signed by the Chairman of that meeting or of the next meeting. Signing on 25 June for a 10 June meeting complies. Signature by all directors or a 7-day limit is not required.

  1. AThe minutes should be signed and dated by the Chairman of that meeting or the next meeting within 30 days of conclusion; here this requirement is satisfiedCorrect
  2. BThe minutes must be signed by all directors present
  3. CMinutes must be signed within 7 days, so there is a default
  4. DMinutes need no signature if they are kept electronically

Explanation

Minutes of each meeting must be entered in the minute book within 30 days of conclusion of the meeting, and are signed by the Chairman of that meeting or the Chairman of the next meeting. Here the minutes were signed on day 15 after the meeting, so they are in order. Signatures of all directors, a 7-day limit, or exemption for electronic keeping are not the rule.

Did you get it right without looking?

One question tells you little. A timed set on Management & Administration shows your real accuracy, how long you take and where you lose marks.

Practise Management & AdministrationFree diagnostic mock

More Management & Administration questions