Directors continued absence for Board Meeting of Pvt Ltd

This query is : Resolved

Guest

Guest (Querist)

18 March 2011 Dear Friends / Experts,

Please see my query, which is given hereunder :

ABC Pvt Ltd, Chennai has four directors.

Out of four directors, two directors are in Chennai and remaining two directors are in abroad.

Query

Whether all the Board Meetings of the company shall be held with only two directors (leaving the two directors, who are in abroad), who are always available with the company.

Ans : ...................

Whether company can receive REQUEST FOR LEAVE OF ABSENCE from the Absentee Directors and hold Board Meetings with the two available directors throughout the years.

By doing so, whether the company is violating any compliance ? Please advise.

Ans : ...................

I shall wait for the responses from the Experts on the above queries.

Thanks.

CA. RAVIKUMAR

CA. RAVIKUMAR (Expert)
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18 March 2011 1.YES
2.YES
3.NO Because in companies act it restrict on the public companies.
in case of private company if in leave is granted by the other director then it will be accepted.

Guest

Guest (Expert)

10 May 2011 1. Yes all board meetings can be held with two directors by granting leave of absence for rest of the directors.

2. There is no violation according to Company Law. But Leave of Absence should be granted by the Board and should be mandatorily recorded in Minutes- in accordance with Securities and exchange board of India (Procedure for Board Meetings) Regulations, 2001