Additional director
This query is : Resolved
03 April 2012
As per Section 260 Additional Director is holds office upto the next AGM.
my query is, if there is an EGM before that AGM is in mandatory to regularize such additional director at the EGM or NOT?
my query is, if there is an EGM before that AGM is in mandatory to regularize such additional director at the EGM or NOT?
Charu Srivastava
(Expert)
03 April 2012
It is not mandatory to regularize in EGN.However you can do so..
03 April 2012
what are the consequences of wrong appointment of Director U/s. 260 of the Companies Act, 1956.
As interested directors voted in the meeting or appointment without Qumran??
As interested directors voted in the meeting or appointment without Qumran??
CS Mitesh Mehta
(Expert)
03 April 2012
Provisions of Section 300 do not apply to private companies.
Unless therefore the AOA of a private company contains a prohibitory clause in terms of section 300, an interested director of a private company can participate in the discussion on the matter in which he is interested; his presence for the purpose of quorum in respect of such matter may be counted;he can vote on a resolution in respect of such matter.
Unless therefore the AOA of a private company contains a prohibitory clause in terms of section 300, an interested director of a private company can participate in the discussion on the matter in which he is interested; his presence for the purpose of quorum in respect of such matter may be counted;he can vote on a resolution in respect of such matter.
CS Mitesh Mehta
(Expert)
04 April 2012
The only legal consequence of a director voting on a resolution in which he is interested would be that his vote had to be excluded. A director, who knowingly contravenes the provision shall be punishable with a fine up to Rs. 50,000/-.
Any Business transacted or resolution passed is invalid unless quorum is present.
Any Business transacted or resolution passed is invalid unless quorum is present.
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