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A PUBLIC COMPANY HAS THREE DIRECTORS AND ONE DIRECTOR HAS RESIGNED ON 30.06.2016. THE NUMBERS OF DIRECTORS FALLS BELOW THE MINIMUM 3 DIRECTORS REQUIRED FOR PUBLIC COMPANIES. THE COMPANY HAS NOT APPOINTED NEW DIRECTOR TILL DATE. WHAT IS THE TIME REQUIRED FOR APPOINTMENT OF NEW DIRECTOR AND WHAT ARE CONSEQUENCES FOR DELAY IN APPOINTMENT. PLEASE ADVISE.

Board of Directors

Posted By: Ravinder 8 year(s) ago

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Capillary Technologies India Pvt Ltd

Sec 174(2) is meant specifically to address this type of situation. It allows Board hold meeting below quorum & to appoint required number of directors (apply sec 161(1) - appointing additional director) or to issue notice for General Meeting to appoint required no of directors

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Expert Ankit Singhi

no time is prescribed for appointment. Any delay will attract default of section 149(1)

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