06 November 2009
1. each board meeting requires a quorum of 2/3 of the board. are there any restrictions on the number that actually need to be present at the meeting, or can there be one present and the rest join by telephone?
2. If its a foreign company incorporated in India, is it a requirement that there shoudl be at least one Indian resident director on the board?
06 November 2009
You can not hold board meeting with one diector personally present and rest join by telephone. The same would not be considered as sufficient compliance of section 287.
CAclubindia
