23 August 2012
In a company ABC Pvt. Ltd. there are two directors Mr. X and Mr. Y. If any of the relative of directors' (suppose Mr. S)is appointed as new Director.
My queries are as follows:
1. While issuing notice to the members of AGM is it mandatory to disclose the same in Explanatory Statement u/s 173 that following directors are interested in appointment of Mr. S as Director.
2. Is that requires disclosure in statutory register maintained u/s 302.
23 August 2012
'being interested in' and 'relative' are 2 different things.You need to disclose the fact that the new director is relative of existing director... so and so. Answwers to both the questions are affirmative.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
24 August 2012
Sir ,
Can u please explain the term 'being interested in'. it includes only contracts which are stated u/s 297?
24 August 2012
The latest example could be whether Mr. Pranab Mukharji was interested in.... office for profit etc. etc. Another example could be ...say I am director in ABC company. A tender is called for appointing say flower decoration. I bid for the tender say through my firm of floral decoration. Here comes the question of 'being interested in"