Chairman
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 August 2012
whether Chairman being interested in the agenda item is required to vacate his chair in case of annual general meeting
CS Ankur Srivastava
(Expert)
09 August 2012
The Concept of interest director is applicable to Board Meeting only. In AGM shareholders are supposed to vote and not the Directors.
Section 300 specifically says that no director shall take part AS A DIRECTOR in any contract wheein he is interested.
Section 300 specifically says that no director shall take part AS A DIRECTOR in any contract wheein he is interested.
CA Sumiit B Nagpal
(Expert)
09 August 2012
Agree with the Expert.
No need to vacate
No need to vacate
CA Ayush Agarwal
(Expert)
09 August 2012
No Need to Vacate.
Since the Meeting for Shareholders and voting, so here chairmen interested case doesnt arise.
Since the Meeting for Shareholders and voting, so here chairmen interested case doesnt arise.
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