CA Goutam Sharma (Chartered Accountant in Practice) 06 April 2019
Suppose there are two directors in a board and convened a board meeting to discuss a matter in which, one of the director discloses his Interest. How will the quorum for the meeting be counted?
CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more. know more
Chirag (Professional) 09 April 2019
If it's a private company, then After disclosure of interest, a director can participate in a meeting, Vote thereon, and also counted towards quorum ..
if its a public company, then interested director will not be counted towards quorum and vote Thereon... In this situation such matters will be reserved for next board meeting(adjourned due to want of quorum).... It will be a better practice to change the Serial No of Agenda item(s) at meeting so that All other business can be smoothly passed/deliberated before adjournment...