VALIDITY OF MEETING
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 January 2011
IF A PUB. LTD. HAVE 5 DIRECTORS FROM WHICH 4 DIRECTOR SUBMMITED THEIR RESIGNATION AND THEY DONT WANT TO COME FOR NEXT B.M. BY WHICH CO. WANT TO APPOINT 2 ADDITIONAL DIRECTOR FOR MIN. REQ. PURPOSE.
CAN ONE REMAINING DIRECTOR HOLD A B.M.? ABOUT QUORUM ?
VALIDITY OF MEETING?
PLZ ADVISE IN BRIEF
CAN ONE REMAINING DIRECTOR HOLD A B.M.? ABOUT QUORUM ?
VALIDITY OF MEETING?
PLZ ADVISE IN BRIEF
udit sharma
(Expert)
12 January 2011
To the best of my knowledge the AOA of a Company limited by Shares are drafted in accordance with Table A of Schedule I to the Companies Act, 1956.
Regulation 75 of the said Table provides that in case the minimum number of Directors fall below the prescribed number, a Board Meeting held by the remaining Director/s for the purpose of increasing the number of Directors to minimum shall be completely valid.
Similarly, a Board Meeting held with the remaining Director for convening a GM of the Company for the purpose of increasing the number of Directors to minimum shall be completely valid.
Check ur AOA, whether they contain such clause.
God Bless
CS Udit Sharma
Regulation 75 of the said Table provides that in case the minimum number of Directors fall below the prescribed number, a Board Meeting held by the remaining Director/s for the purpose of increasing the number of Directors to minimum shall be completely valid.
Similarly, a Board Meeting held with the remaining Director for convening a GM of the Company for the purpose of increasing the number of Directors to minimum shall be completely valid.
Check ur AOA, whether they contain such clause.
God Bless
CS Udit Sharma
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