Urvashi (Trainee) (74 Points)
29 May 2013Hello All!
One of our client companies have four Directors, one of whom is untraceably from past some time, i. e., all the correspondence with him comes back. the Company has drafted a Board Resolution by Circulation and has been sent to all the Directors.
Two of rest three directors has passed the Resolution, but one has not. So, whether it will be taken as carried away or defeated as per the provision of Section 289 of the Act?
Kindly interpret the section..
Thanks and Regards!
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 29 May 2013
No, because it is not passed by majority of the directors (i.e. 3 in your case). Director not traceable is still a director as per records of company and MCA and hence will be included in the total number of directors.
satish kumar voleti
(A.C.A., (ICWAI))
(1686 Points)
Replied 29 May 2013
CAclubindia
