Subject: appointment of director who is relative of director

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Manish Buchasia PCS Ahmedabad

Manish Buchasia PCS Ahmedabad (Querist)

05 February 2015 FACT:
• There are two Directors in ABC PRIVATE LIMITED. And Paid up share Capital of the Company is less then Rs 5 Crore. Mr. A and Mrs. B. Now Mrs. C is appointed as a Director of the company and paid Salary is less than Rs 2.50 Lacs. And Mr. A is Father And Mrs. B is Mother of Mrs. C.
Query
1. Please Advice, if all the directors of a company are interested in transaction of Board meeting. How the board resolution is to be passed.
2. Please Advice,

Thanks In Advance

c.bakshi

c.bakshi (Expert)

06 February 2015 in this matter, you have to do GENERAL MEETING and do one thing more transfer some of the shares to outsider before doing so. and then organize a general meeting and pass such resolution

Message likes : 1 times

Manish Buchasia PCS Ahmedabad

Manish Buchasia PCS Ahmedabad (Querist)

06 February 2015 Thanks a lot for Prompt Reply.
But i thinks there is not need for trasfer of Shares.

c.bakshi

c.bakshi (Expert)

07 February 2015 yes, i just simply means to say if all the members are interested in the contract or agreement then it is a good corporate practice to choose some members outsider and without share transfer it is not possible

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