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Experts on Insolvency & Bankruptcy Code
  • Quorum requirement

    by Chirag on Thursday, April 18, 2019 at 01:17 PM

    Dear Sir, Internal Auditors of our company says that following director shall NOT BE COUNTED IN TOTAL STRENGTH as per Sec 174 (Quorum) wherein the requirement is to calculate 1/3rd of Total Strength ??--- i) The director who has TAKEN LEAVE OF ABSENCE and is unable to attend the Board Meeting . 2) As per their view, Interested Directors should BE COUNTED in Total strength ? Pls give your valuable suggestion in both cases ??

    Replied byV. S. Datey Friday, April 19, 2019 at 09:18 AM

    1. difficult to agree 2. yes - only in case of resolution where he is interested, he cannot be counted V S Datey

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