20 July 2010
My query is in a private Limited company there are two directors and one of such director is outside India for the time being, at this point is it possible for a company to pass any resolution ?
since the company cannot held a board meeting due to lack of quorum and also cannot pass a circular resolution,because as per section 289 of companies Act it mandatory that minimum number of directors (quorum) should be present in India ?
It will be pleasure if anyone reply soon for the query, thank you.
20 July 2010
You can hold Board meeting by Video conference.
Though Companies act do not prohibit holding of Board meeting by Video conference provided the minimum no. of Board meeting (i.e. 1 meeting in a quarter)as per 285 should be hold by actual meeting and not Video conference.
CAclubindia
