05 January 2010
If a director is common in 2 Public companies and hold less than 2% of the share capital of the Company, then will his vote be counted in the Board Meeting on the matter of a contract or arrangement to be entered into with that other Company??Is he interested under section 300???
Please help me to sort out the query...need answer urgently...
but my query is itself about the interest..that if a director is director in another company also with shareholding less than 2%, then will he be interested due to his directorship & shareholding?
and one more thing to ask whether all contracts, arrangements covered under sec 299 will also be covered under sec.300??or some more contracts and arrangement be included under sec 300??
CAclubindia
