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presence of directors in the BM

DIPAK AGARWAL (Service) (554 Points)

25 January 2008

say in our case there are 10 directors, 5 are whole time dir, 3 independent dir are of remuneration co. & 2 other dir & 5 whole time dir constitues the audit commitee.

therefore my question is that

in any general bm can we show the only 5 whole time dir. as present & other shown as leave/absent.

or

what kind of the particulat meeting in which we should not do so & have to show the 7 of 8 dirs. presence.

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4 Replies

DIPAK AGARWAL (Service) (554 Points)
Replied 18 February 2008

pl. reply some one

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Kaustuv (Practicing CA) (1773 Points)
Replied 19 February 2008

as far as general board meeting is concerned the required quorum is one-third. so in your case, it should be 4 directors. and they can be any four out of the 10 directors. this can be told from the details provided by you. there are other issues like interested directors etc. as well.

Rahul (Company Secretary & Manager-Legal) (216 Points)
Replied 06 March 2008

the requirement of Sec. 287 is ... a) 1/3 of total nos. of directors; OR, b) 2; which ever higher. so showing 5 WTD present in the BM.....is perfect compliance ..

DIPAK AGARWAL (Service) (554 Points)
Replied 17 March 2008

whether it is compulsory for the Directors of Audit committee, remuneration committee etc. to be present in other board meetings in which issues not related to the respective comittees are discussed.

if they are not present in those meetings then is it necessary to grant them leave of absence.