Inter Corporate Loans-372A

According to me hold a board meeting to fix the date of EGM and simply get the transaction approved by shareholders at the EGM.

Another option would be --- increase the strength of board of directors by appointing additional directors u/s 260 to avoid the problem of lack of quorum.

Other Views solicited.

Thank you.

However, if the common director is also a shareholder of the public co. holding 16 % of the shares would this have any impact on the loan transaction???

Hi

According to me presence of interested director can also be counted to constitute the valid quorum. Section 300 is not applicable to independent pvt. ltd. company.

I agree with suman khurana.