Directors

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Huzefa Tinwala (Querist)

21 September 2012 What is the meaning of "Interested Director" and Non-Interested Directors" regarding the meeting of Board?
What are the effects of such Directors while taking decision?

Amol S Joglekar

Amol S Joglekar (Expert)

21 September 2012 No director of a company shall, as a director, take any part in the discussion of, or vote on, any contract or arrangement entered into, or to be entered into, by or on behalf of the company, if he is in any way, whether directly or indirectly, concerned or interested in the contract or arrangement; nor shall his presence count for the purpose of forming a quorum at the time of any such discussion or vote; and if he does vote, his vote shall be void...... www.vakilno1.com

Huzefa Tinwala

Huzefa Tinwala (Querist)

23 September 2012 but in such case what should be the coram for meeting and taking decision?

Amol S Joglekar

Amol S Joglekar (Expert)

23 September 2012 Quorum is same as other meetings. When the subject of interest directors come for discussion, they do not take part. The rest of the subjects are open to all.

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