Subject: appointment of director who is relative of director

This query is : Resolved

Manish Buchasia PCS Ahmedabad (Querist)
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05 February 2015 FACT:
• There are two Directors in ABC PRIVATE LIMITED. And Paid up share Capital of the Company is less then Rs 5 Crore. Mr. A and Mrs. B. Now Mrs. C is appointed as a Director of the company and paid Salary is less than Rs 2.50 Lacs. And Mr. A is Father And Mrs. B is Mother of Mrs. C.
Query
1. Please Advice, if all the directors of a company are interested in transaction of Board meeting. How the board resolution is to be passed.
2. Please Advice,

Thanks In Advance

c.bakshi

c.bakshi (Expert)
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06 February 2015 in this matter, you have to do GENERAL MEETING and do one thing more transfer some of the shares to outsider before doing so. and then organize a general meeting and pass such resolution

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Manish Buchasia PCS Ahmedabad

Manish Buchasia PCS Ahmedabad (Querist)
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06 February 2015 Thanks a lot for Prompt Reply.
But i thinks there is not need for trasfer of Shares.

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c.bakshi

c.bakshi (Expert)
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07 February 2015 yes, i just simply means to say if all the members are interested in the contract or agreement then it is a good corporate practice to choose some members outsider and without share transfer it is not possible