XYZ Pvt. Ltd., has two director X and Y. The shares of the company are held by X, Y and Z in the ratio 40%, 40% and 20%, Z is however not a director. The company desires to enter into a contract in which X is interested where a Board resolution is required. How can the Board resolution be passed since there will be only one uninterested Director and Z is not a director?
Can a company alter it's memorandum of association by passing an ordinary resolution with the prior sanction of Regional Director?
Is it necessary to pass a board resolution for payment of salary to a director of private company. The director is on the payroll of the Company and he is executive director. According to my opinion the sections relating to managerial remuneration are applicable to public companies and private companies. So there is no need to pass a resolution for payment of salary to executive director of private company.
Can you please elaborate the process and provisions of "Passing of Resolution by Circulation" wrt to Companies Act, 2013?
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India