Non-filling of casual vacancy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2011
Dear all,
there is a case where two directors of private ltd co. out of 3 were died in accident in 2008 and casual vacancy has arisen. but company has not filled this vacancy till date.
now my question is how this vacancy can be filled? and is there any penalty on such case?
there is a case where two directors of private ltd co. out of 3 were died in accident in 2008 and casual vacancy has arisen. but company has not filled this vacancy till date.
now my question is how this vacancy can be filled? and is there any penalty on such case?
12 July 2011
Section 262 said in such case the vacancy is filled by the Board can be made but this section is only applicable in case of a Public or Company Subsidiary of Public Company, but Pvt company's are governed by the AOA if anything mention relating to the matter complied with or vacancy can be filled by the Share Holder, because after the death of 2 of 3 Director there is no quarom for Board Meeting.
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