Swati Sharma (TRAINEE) (328 Points)
26 May 2015Hello Firends,
What shall be the quorum in Board meeting of Pvt. Co. to conduct Related party transaction with Subsidiary Co.
There are 7 directors in Holding Co. of which 5 are common in subsidiary Co.
What shall the qurom to pass RPT and whether all the 5 Directors of subsidiary Co. will be considered interested Director.?
Kindly guide
Regards
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 26 May 2015
as per section 174(3) states that where any time the number of interested director exceeds or equal to 2 third of total number of directors, the number of directors who are not inetrested directors and present in the meeting , being not less than 2 shall be quorum of meeting.
kavitt vashist
(student)
(69 Points)
Replied 26 May 2015
CAclubindia
