1) First meeting- with 30 days from the date of incorporation  and after that not less than 4 meetings in a calendar year. Two consecutive BM shall not intervene more than 120 days.

provided that the central govt. may, by notification, exempt such class or classes, description or classification of companies or to comply with such exceptions, modifications or conditions as may be specified in the notification.

2) The directors may attend the meeting in person or through video conferencing or such audio visual means which are capable of recording and recognizing such participation and of storing and recording of the business discussed at that meeting alongwith date and time.

Provided that the central govt. may, by notification, specify such business which shall not be discussed through video conferencing or such audio visual means.

3) The notice of such meeting shall be sent to every director of the company in writing not less than 7 days prior to the date of meeting at the address registered with the company and shall be sent by hand delivery or by post or by any electronic mode.

Provided that a meeting may be conducted at a shorter notice to conduct some urgent business. Provided further that Such meeting of members of Board shall be attended by at least one independent director, if any. if no independent director attends the meeting of board of directors where it is required to do so, the business conducted at the meeting shall be circulated among all the directors which shall be ratified by at least one independent director, if any.

4) Every officer of the company whose duty is to give such notice and fails to comply with provisions shall be punishable with a fine of Rs. 25000.

5) A One person company, small company or dormant shall be deemed to have complied with the provisions of this section if it convenes not less than one meeting of members of board of directors in half calendar year and gap between two consecutive meetings is not less than 90 days.

Provided that nothing contained in this sub section and section 174 shall apply to a One person Company where there is only one director in it's board.