Dear all
I have a situation at hand for which m looking for a solution
There is a public govt company in which there are even number of directors who are equally divided on every issue thereby preventing the management from passing any resoution or reachin a decision. How to resolve this deadlock at the Board itself without calling EGM/AGM.(none of the Board menbers hold more than 1/10th shares/voting rights)
Moreover, if the first item of the Board is removal of the existing Chairman, who will Chair the item? Technically how will the new appointment happen?
I see an even number as the result every time, hence no possibility of passing the resolution.
Kindly share your valid views on this.
Regards
Resh
CAclubindia
