Write short answers for the following:
What are the legal provisions regarding quorum ?
What are the legal provisions regarding quorum ?
Quorum – While commencing the Meeting
If the requisite Quorum is not available at the start of a Board meeting, the meeting stands adjourned as provided in the Articles of association of the company. If the articles are silent, then the meeting automatically stands adjourned to the same day, same time in the upcoming week. If that day happens to be a national holiday, then it will be postponed to the next available date which is not a national holiday.
National Holidays includes Republic Day, Gandhi Jayanthi, Independence day or any other day that has been specified as a public or national holiday by the Central Government.
Quorum – Disinterested Directors
The interested directors are not counted for the purpose of the quorum for a Board Meeting. The quorum of disinterested directors is required for each business transacted at the Board meeting unless the articles provide for a higher quorum. Discussions or meetings would not be convened without the participation of quorum of disinterested directors.
Quorum – While commencing the Meeting
If the requisite Quorum is not available at the start of a Board meeting, the meeting stands adjourned as provided in the Articles of association of the company. If the articles are silent, then the meeting automatically stands adjourned to the same day, same time in the upcoming week. If that day happens to be a national holiday, then it will be postponed to the next available date which is not a national holiday.
National Holidays includes Republic Day, Gandhi Jayanthi, Independence day or any other day that has been specified as a public or national holiday by the Central Government.
Quorum – Disinterested Directors
The interested directors are not counted for the purpose of the quorum for a Board Meeting. The quorum of disinterested directors is required for each business transacted at the Board meeting unless the articles provide for a higher quorum. Discussions or meetings would not be convened without the participation of quorum of disinterested directors.
