Board meetings (resolution by circulation)
This query is : Resolved
01 July 2012
necessary condition for resolution by circulation.
the number of directors in india >= quorum
q) 9 directors out of which three are interested and four are outside india. does a resolution by circulation can be passed?
the number of directors in india >= quorum
q) 9 directors out of which three are interested and four are outside india. does a resolution by circulation can be passed?
02 July 2012
Yes a resolution by Circulation can be passed provided it is a private limited company which is neither a subsidiary nor a holding company of a public company.
In the case of an independent private company interested directors are not debarred from voting or the resolution — section 300(1)(a).
So if out of 5 directors in India 3 vote in favour of resolution the same can be passed but if the company is a public limited company this arrangement is not possible as four directors are outside India and three can not vote as they are debarred from voting u/s 300 of the Companies Act, 1956.
In the case of an independent private company interested directors are not debarred from voting or the resolution — section 300(1)(a).
So if out of 5 directors in India 3 vote in favour of resolution the same can be passed but if the company is a public limited company this arrangement is not possible as four directors are outside India and three can not vote as they are debarred from voting u/s 300 of the Companies Act, 1956.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- 115-BAC-for AOP-private discretionary trust
- Insurance make against any item and later get insurance claim received
- Cgst asmt - 10
- IN PAGHDI SYSTERM . RENT RECPT CHANGE OF NAME AFTER FAMILY PARENTS TO SON
- E-Invoice applicability related question
- CAN a GSTIN registered under rule 14A opt for composition scheme without withdrawal from rule 14A ??
- Refund Claim in Next Year
- Employee claim Expnese Invoices
- Reduce fine on my company
- Delisted shares
- Journal entry of TDS operative a/c dr (under withdrawal side of bank a/c)
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- INCOME TAX QUERY FY25-26()\
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
