Chairman of AGM interested in a resolution relating his reappointment

[SUMIT JAISWAL]

Dear All,

In an annual general meeting, a director was elected as chairman of meeting. One of the agenda in the AGM relates to that person (chairman of AGM) being reappointed as Director. Should that person step aside as chairman for that particular agenda or should he continue? Kindly quote relevant provisions, if any.

 

Thanks & Regards

Sumit Jaiswal

[mallik vishwanatham]

He can continue. There is no concept of interested person in General Meetings except in case of Related Party Transaction. If the remuneration payable to him is not an office or place of profit, then the person can continue and chair the meeting.

If that is the case OPCs and Private Companies can not pass any shareholders resolutions for remuneration of their Promoter Directors.

Thanks & Regard

Mallik

[SUMIT JAISWAL]

Thanks for the quick reply.

Regards

Sumit

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