A company ABC Pvt. Ltd. has 2 Director Mr.A and Mr.B. Both of them are brother. In this case if a Board of Directors required to pas a Resolution for taking Loan from the Director's Father, then which Director is entilted to Vote in the above matter as both of them are intersted in the above Subject matter. Please provide me with a solution.
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Board meeting
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They can pass resolution. Notification dated 05/06/2015 has given exemption for private company in this regard. Please check the notification for more details.
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