Legal Question in Business Law in India

a meeting of the board of directors of sreeram ltd.was convened on 30th september 2012,but the meeting did not take place for want of quorum.as a result,the company did not hold any board meeting for the quarter ended 30th september,2012 and there is a complaint that the company has violated the provisions of the companies act,1956 in this regard

Asked on 7/11/13, 3:09 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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11.07.2013

Dear Sir / Madam,

Google search at the time of replying to your query indicates the name of two group companies namely DCM Shriram Industries Ltd. and Shriram Transport Finance Company Ltd. Yes, the concerned Company Director(s) in question have violated the provisions of the Companies Act, 1956 and the Board and the Director concerned, is accountable and responsible to explain to the Registrar of Companies, why he / she was absent with reason for adjourned sought by the Directors present. No explanation forthwith, the concerned defaulting Director(s) will have to resign from the Board.

Regards,

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7/11/13, 3:24 am

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