23 December 2015
In Board Meeting, MD is interested in any item of agenda then MD can not approve that item but if MD is counted for the purpose of Quorum then what to do ??
19 January 2016
As per 3.2 of Secretarial Standard-I A Director shall not be reckoned for Quorum in respect of an item in which he is interested. As per Exemption Notification to Private Limited Company Now Interested directors can participate in the meeting and vote in the meeting after disclosure of his interest
He Cannot be counted in Quorum (Section 174(3) explanation)
So in your question MD will not count for the quorum.
CAclubindia
