what is the impact if company shows that a director was present in the Board Meeting but later we came to know that in actual that director was out of india in the same time.
plz give impact on audit point of view.
Is the same is fraud or null and void Bm or what. How can i give bamboo to the client
17 March 2010
Yes board meeting may be declared invalid. If it is proved that due to his absence from the board meeting quorum u/s 287 was not complete.
For example if your co. is a private company with 2 directors than both the directors should be present in the meeting for quorum purpose. However if later on your track the fraud mentioned in your query then the meeting is invalid due to lack of quorum.
CAclubindia
