law: Companies Act, 2013 
  Chapter
  
  XII
  Meetings
  
  of Board and Its Powers
  173.
  
    Meetings
  
  of Board
  1.      Every company shall
  
  hold the first meeting of the Board of Directors within thirty days of the date
  
  of its incorporation and thereafter hold a minimum number of four meetings of
  
  its Board of Directors every year in such a manner that not more than one hundred
  
  and twenty days shall intervene between two consecutive meetings of the Board:
  Provided
  
  that the Central Government may, by notification, direct that the provisions of
  
  this sub-section shall not apply in relation to any class or description of
  
  companies or shall apply subject to such exceptions, modifications or
  
  conditions as may be specified in the notification.
  2.      The participation of
  
  directors in a meeting of the Board may be either in person or through video
  
  conferencing or other audio visual means, as may be prescribed, which are
  
  capable of recording and recognising the participation of the directors and of
  
  recording and storing the proceedings of such meetings along with date and
  
  time:
  Provided
  
  that the Central Government may, by notification, specify such matters which
  
  shall not be dealt with in a meeting through video conferencing or other audio
  
  visual means.
  3.      A meeting of the
  
  Board shall be called by giving not less than seven days’ notice in writing to
  
  every director at his address registered with the company and such notice shall
  
  be sent by hand delivery or by post or by electronic means:
  Provided
  
  that a meeting of the Board may be called at shorter notice to transact urgent
  
  business subject to the condition that at least one independent director, if
  
  any, shall be present at the meeting:
  Provided
  
  further that in case of absence of independent directors from such a meeting of
  
  the Board, decisions taken at such a meeting shall be circulated to all the
  
  directors and shall be final only on ratification thereof by at least one
  
  independent director, if any.
  1.     
  2.     
  3.     
  4.      Every officer of the
  
  company whose duty is to give notice under this section and who fails to do so
  
  shall be liable to a penalty of twenty-five thousand rupees.
  5.      A One Person Company,
  
  small company and dormant company shall be deemed to have complied with the
  
  provisions of this section if at least one meeting of the Board of Directors
  
  has been conducted in each half of a calendar year and the gap between the two
  
  meetings is not less than ninety days:
  Provided
  
  that nothing contained in this sub-section and in section 174 shall apply to
  
  One Person Company in which there is only one director on its Board of
  
  Directors.