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If a company has only Husband and wife as Directors as well as shareholders then we can not appoint their son as a CEO of the company as the Board is not able to pass the resolution (lack of disinterested quorum but can we appoint him as an executive Director on the Board and pay him remuneration for that?

Section 188- Related party transactions.

Posted By: Anita 10 year(s) ago

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KR Sampath

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KR Sampath

Who are the shareholders? If you and your wife alone are the shareholders, make your professional friend as a shareholder and call for a general meeting and make the appointment. The professional friend could be the first owner and you or your wife the second owner.

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