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QUORUM FOR A BOARD MEETING

Corporate Laws / Banking / SEBI / LLP - By: - Mr. M. GOVINDARAJAN - Dated:- 1-10-2015 - Quorum Section 174 of the Companies Act, 2013 ( Act for short) contains the provisions relating to the quorum for the Board Meeting. Section 174(1) provides that the quorum for a meeting of the Board of Directors of a company shall be one third of its total strength or two directors, whichever is higher. The total strength shall not include directors whose places are vacant. Any fraction of a number shall be .....

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s is 8 members or 25% of its total strength whichever is less. The quorum shall not be less than 2 members. Participation by Video conferencing The participation of the Directors, by Video conferencing or by other audio visual means shall also be counted for the purposes of the quorum. Clause 3.3 of SS-1 provides that Directors participating through electronic mode in a meeting shall be counted for the purpose of quorum unless they are to be excluded for any items of business under the provision .....

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mmittee for the consideration of Annual Financial Statement if any to be approved by the Board. Quorum in case of reduced Directors Section 174 (2) of the Act provides that the continuing directors may act, notwithstanding any vacancy in the Board but if and so long as the number is reduced below the quorum fixed by the Act for a meeting of the Board, the continuing directors or director may act for the purpose of increasing the number of directors to that fixed for the quorum or of summoning a .....

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terested directors exceeds or is equal to two thirds of the total strength of the Board of Directors, the number of directors who are not interested directors and present at the meeting being not less than two, shall be the quorum during such time. Clause 3.2 of SS-1 provides that a Director shall not be reckoned for quorum in respect of an item which he is interested, whether physically or through electronic mode during discussion and voting such item. A Director shall be treated as interested .....

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rmation of quorum Rule 3(5) (a) of the Companies (Meetings of Board and its Powers) Rules, 2014 ( Rules for short) provides that after roll call, the Chairperson or the Company Secretary shall inform the Board about the names of persons other than the Directors who are present for the said meeting at the request or with the permission of the Chairperson and confirm the required quorum is complete. Rule 3(5)(b) provides that the Chairperson shall ensure that the required quorum is present through .....

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