The ICSI module sates that max time gap between 2 board meetings shouldn't be more than 120 days i.e., 4 months! However many times people say the answer is 3 months. What should be the correct answer and if it is 3 months then why?
Every company shall hold minimum 4(four) board meetings each year. Here "year" means calendar year (from January to December) and not financial year of the company. Gap between Two consecutive board meetings: not more than 120 days. Companies act 2013: This provision is prescribed under section 173(1).