Board meeting through teleconferencing

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CS YPN (Querist)
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21 March 2012 Hi all,

If in private ltd company there are only two directors and 1 director stays out of India and attends most of the meetings via teleconferencing then how he sign Annual account when he attend that particular board meeting for adoption of account via teleconferencing?

Ajay Mishra

Ajay Mishra (Expert)
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21 March 2012 Hi

Read General Circular No. 28/2011 dated 20.05.2011 issued by MCA. On the basis of said circular you can send the Annual Account for singing to the said director.

Regards

CS YPN

CS YPN (Querist)
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26 March 2012 Yes I have gone through that circular but couldn't find this explanation and what if both the directors stays outside india?

Ajay Mishra

Ajay Mishra (Expert)
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26 March 2012 Hi

There is no restriction for holding of Board Meeting outside India. You can hold Board meeting where these directors resides.

Regards

CS YPN

CS YPN (Querist)
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27 March 2012 Thanks Ajay Sir,

So the two directors who are the only shareholder of that private ltd company can run the company from outside just by holding AGM in India? What further compliance they will required to followed? Is it not advisable to them to appoint director in India or not ?

Ajay Mishra

Ajay Mishra (Expert)
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27 March 2012 Hi

You follow all provisions of Companies Act, accordingly. You have liberty to hold BM anywhere of the world.

Regards

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