. . Meeting of the Directors Since the administration of the company lies in the hands of the board of directors, they should meet frequently for the proper conduct of the business and to decide policy matters of the company. 12th Commerce Unit - - .
. PM a) Board Meetings Meetings of directors are called Board Meetings. Meetings of the directors provide a platform to discuss the business and take formal decisions. First meeting of directors should be convened within (Thirty) days from the date of incorporation of the company.
b) Committee Meetings Every listed company and every other public company having paid up share capital of ₹ crore is required to have audit committee. This committee should meet at least four times in a year. In case of other companies, the board of directors shall nominate a director to play the role of audit committee which is functioning as a vigil mechanism.