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What are the matters in respect of which a director shall not be reckoned for quorum?

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posted Aug 7 by Deepak Jangid

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A Director shall not be reckoned for Quorum in respect of an item in which he is interested and he shall not be present, whether physically or through Electronic Mode, during discussions on such item. For this purpose, a Director shall be interested in a contract or arrangement entered into or proposed to be entered into by the company:

(a) with the Director himself or his relative; or
(b) with any body corporate, if such Director, or such Director along with other Directors holds more than two percent of the paid-up share capital of that body corporate, or he is a promoter, or manager or chief executive officer of that body corporate; or
(c) with a firm or other entity, if such director or his relative is a partner, owner or member, as the case may be, of that firm or other entity

answer Aug 10 by Rani Das
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