In case, In private limited company the number of director falls below 2, then what are the consequences.
there was 2 director in which one director given resignation on 12.06.2010 and in his place another director appointed on 15.09.2010.
Kindly give section or case reference.
Thanking you in advance
Dear Ameet
In Case the director of the company is less than two or the no. of director fix for the quorum, then the remaining director (continuing director or directors) may act for the purpose of increasing the no. of directors to that fixed for the quorum or summoning a general meeting of the company, but no for other purpose.
Please read Regulation 75 of Table A of Schedule I of the Companies Act, 1956.
Regards
CS Ajay Mishra
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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