As per the Companies Act, 1956, a company shall hold the first meeting of board of directors within how many days of the date of its incorporation?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 30 days
A company must hold the first meeting of its Board of Directors within 30 days of the date of its incorporation, and after that at least four Board meetings every year, with not more than 120 days between two meetings. This is Section 173(1) of the Companies Act, 2013.
Note 1: It seems that there is a mistake in the original NTA paper, which prints “Companies Act, 1956” when it should read “Companies Act, 2013”. The 30-day rule for the first Board meeting comes from Section 173(1) of the 2013 Act; the question can still be answered from it.
Note 2: This topic is not covered in any edition of the NCERT Accountancy textbook.