Dynamic Ltd. (paid-up share capital ` 25 Crore) proposes to enter into a contract
with Sunil for the procurement of raw materials for an amount of ` 5 Crore during the
financial year. Sunil is the step brother (father’s second wife’s son) of Anil, who is a
director of Dynamic Ltd. Discuss the compliance requirements in respect of the above
procurement contract.
2 Replies
Abhishek
(None)
(39 Points)
Replied 17 September 2017
Speacial resolution shall be passed in EGM of dynamic ltd. provided that notice of such EGM shall contain such financial Interest of the director.
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