CS Jithesh (ACS,) (COMPANY SECRETARY ) (485 Points)
20 February 2010Dear All,
In case of any director to be removed u/s 284(1) , a special notice has to be send by a shareholder to company. I would like to know is there any restriction or limit for the minimum number of shareholding be there for sending the removal special notice.
This is very very very urgent. Please reply
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 20 February 2010
Dear Jithesh,
Read the provisions of special notice with section 190. So as per section 190 even a single member holding 1 share may forward notice to the company.
Regards
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 20 February 2010
Yes, I completely agree with Ankur Sir that as per provisions of section 284, only one member holding even 1 share can give special notice to th company.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 20 February 2010
Let me share one more important thing for future reference and practice.
Always read section 225 regarding auditor removal and section 284 regarding removal of director with section 190. However there is difference of opinion between various High Courts that section 225 and 284 should be read with section 188.
On the other hand some HC says these section should be read with section 190 and the second opinion is considered as final as far as corporate practice is concerned.
To conclude -- read section 225 regarding auditor removal and section 284 regarding removal of director with section 190.
Best Regards
CAclubindia
