Hello Firends,
What shall be the quorum in Board meeting of Pvt. Co. to conduct Related party transaction with Subsidiary Co.
There are 7 directors in Holding Co. of which 5 are common in subsidiary Co.
What shall the qurom to pass RPT and whether all the 5 Directors of subsidiary Co. will be considered interested Director.?
Kindly guide
Regards
as per section 174(3) states that where any time the number of interested director exceeds or equal to 2 third of total number of directors, the number of directors who are not inetrested directors and present in the meeting , being not less than 2 shall be quorum of meeting.
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