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As per new provisions of companies act a director interested in a resolution can not participate in a Board meeting. In my case a private limited company with two directors having a plot of land. The company wants to take on lease the plot of land owned by its directors and their relatives. on which to construct a factory building for its use.Can any one guide me as to how to enter into the agreement with the plot owner

Board Meeting

Posted By: Ashok 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    ANIL GUPTA

184(2) restricts contract between company and body corporate or other entity. so your case does not come in the ambit.

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Expert    Ankit Singhi

Either change the Board for time being and enter into the transaction or wait till MCA exempts private company from such provisions

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