I have a query regarding passing of Ordinary Resolution in case of related party.
There are two directors in the Co. One director is interested in Transaction with related party so he cannot present during that meeting. Can other Director approve the Ordinary resolution himself?
Or we have to appoint one more director to approve the same.?
12 February 2015
minimum Two directors should be there to complete the condition of quorum. Yes, You have to appoint persons as director having no interest and not covered under the definition of relative under the act
CAclubindia
