Managing Corporate Finance
1051 Points
Joined March 2009
Hi Folks,
While teaching 'Interpretation of Statutes' to us in class, our faculty told us three basis rules in respect of any act -
1) When Law says you cannot - you cannot
2) When Law says you can - you can
3) When Law is silent - YOU CAN
On basis of above, I can say that 'one Alternate Director can be appointed for two or more original directors'. I agree with Praveen that a good practice would be one for one. But, a company CAN appoint one for two or more.
When one alternate director is appointed for two or more, presence for quorum shall be counted as two or more, votes will be counted as two or more. However, he is entitled for sitting fees for only one.