How to operate co.

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2014 In a pvt. ltd. co. 2 directors are residing in US and one in india. What should we do to run company so that the provisions of the companies act do not violate. ?? Whether all the act on behalf of the board can be done by one director who is residing in india if board authorises such person to do such acts.???

SHAKTI JINDAL

SHAKTI JINDAL (Expert)

22 February 2014 Going by the provisions of section 287, the Board Meeting cannot be held for want of quorum. The appropriate way would be to convene the meeting. In case the quorum is not present at the Board Meeting, the same shall stand adjourned. Section 288(2) of the Companies Act, 1956 provides that the provisions of section 285 shall not be deemed to have been contravened merely by reason of the fact that a meeting of the Board which had been called in compliance with the terms of that section could not be held for want of quorum. Other appropriate solutions would be –

1. Hold the Board Meeting in UK. The Indian Director can join by videoconferencing.
2. Alternate directors could be appointed for those directors who are out of India pursuant to section 313 of the Companies Act, 1956

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now