Whether proviso to sec 287(2) applicable only in case of failure to meet the provisions of section 287(2)?
For example, in a public company, where out of 9 total directors, only 3 directors were present (all of them being interested and covered u/s 300) - would it meet quorum requirements? Applying sec 287(2) - yes. Independent of above, proviso not applicable.
Further, what would be the case if in the above example, instead of 3 directors, 6 directors (all being interested and covered u/s 300) were present?
Many thanks,
Kishan
PS: On a plain reading of the provisions, I am of the first impression that the applicability of the proviso is independent of the outcome of the application of sec 287(2)
CAclubindia
