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
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.
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