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Non-Resident Directors

Neha (service) (73 Points)

18 April 2010

Can someone please guide me:

1. on the consequences of having non-resident directors in private limited comp , what kind of non-copmliances take place?

2. can Board meetings currently can be held and valid on video-conferencing or outside India ?

Thanks in Anticipation..for ur help & guidance.

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3 Replies

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 19 April 2010

BM by Tele and/ or Video conferencing.....

/forum/board-meeting-through-tele-amp-vedio-conferencing-39824.asp

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CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 19 April 2010

BM can be held at any place subject to AOA, even if such place is outside the city, town or village in which the registered office of the company is situated.

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 19 April 2010

one Important section for ur case...

Section 289 - Passing Resolution by Circulation

consider the following conditions :-

1. The Number of Directors Present in India is equal to or more than quorum for BM.

2. The resolution shall be circulated in draft, together with necessary papers, to all the directors then in India and all other directors at their usual address in India.

3. The resolution shall be approved by -

(a) all the disinterested directors then in India

(b) a majority of all the disinterested directors, whether in India or outside India.

Circular resolution is prohibited for passing resolution u/s 262, 292, 293A, 297, 316, 386, 372A and 488.