Dear All,
I am working with 100% subsidiary of Japanese listed Company . My company is Pvt. Ltd. and Export Oriented unit.
Now all the Directors of the Company are appointed by the Holding Company .
Technically, all Directors of my Company whether Indian or Japanese are appoint5ed by the Parent Company .
Directors of my Company are either working as a Director of the Parent co. or has been appointed as principle officer of the parent Company.
We are availing the ECB's from our parent Company from time to time , sometimes we are also opting for infusion of share capital which is subscribed 100% by our parent company.
Now, while passing the resolution all my directors becomes the interested party , in such case how should I manage the requirement of New Companies Act, as per section 184 Director can not participate in the decision where he is directly or indirectly interested .
In such situation how I should pass the resolution ??
CAclubindia
