Who is interested party?

This query is : Resolved

simran (Querist)
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28 February 2015 there are 3 directors in the PUBLIC UNLISTED company
1.MANAGING DIR
2.WHOLE TIME DIR
3. NON EXECUTIV DIR

NON EXECUTIVE dir is the wife of whole time director.

and DUAGHTER IN LAW of managing director

In Board meeting we want to increase the remuneration of NON EXECUTIVE DIRECTOR under place of profit,

NOW QUESTION IS

whether MD AND WTD would CONSIDERED AS INTERESTED PARTY

CAN WTD AND MD be a part of quorum and cast a vote or not?

Nayak

Nayak (Expert)
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28 February 2015 As per section 174 (3) read with Section 184(2) they are not interested directors in your case.

Yes both can be a part of quorum.

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