Quorum as per section 300
This query is : Resolved
06 May 2010
Hi! I have a query regarding appointment of a relative of the director as an employee. As per section 314(3), special resolution is required where the directors or relatives of the directors are appointed on office or place of profit. As per section 300, interested directors cannot participate & vote in the meeting. But, in my company(limited by shares), there are only 6 shareholders and all are relatives of each other. In this case how can the quorum can be maintained as all the directors are relative to each other. Please help.
06 May 2010
Section-300 is applicable on a public company only. This section put restriction on the directors and not on shareholders.
So you may hold your general meeting without any problem as section 300 is not applicable to a shareholder.
Regards
So you may hold your general meeting without any problem as section 300 is not applicable to a shareholder.
Regards
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