Indian Kanoon - Search engine for Indian Law

1.4 The board meeting when held for the first time at Tirupur on 10.09.2004, there was no quorum and therefore, the board meeting came to be adjourned to 17.09.2004. Article 191(i) dealing with quorum for a board meeting stipulates that when any General Reserved Matter is to be considered, no quorum shall be deemed to be present unless at least 1 (one) nominee director of each Shareholder (who is entitled to nominate director(s) under article 119 and 120) is present at the board meeting; and further any AIDQUA Reserve Matter is to be considered, no quorum shall be deemed to be present unless at least l(one) nominee director of AIDQUA is present at such board meetings. Article 192(1) provides that if a board meeting could not be held for want of quorum, the meeting shall be automatically adjourned to the same day in the following week at the same time and place or if that day is not a business day till the next business day, as specified therein. If at such adjourned meeting, the quorum is not present within one-half-of an hour of the time appointed for the meeting, then at the adjourned meeting one-third of the total strength of the board or 2 directors, whichever, is higher, present at such adjourned meeting shall constitute the quorum. However, in the event of a nominee director of the applicant is not present for the said adjourned meeting, no General Reserved Matter or AIDQUA Reserved Matter will be considered at the adjourned meeting. Article 193 specifies that in the case of an AIDQUA Reserved Matter, no board resolution shall be effective and valid unless it is adopted by the affirmative vote of at least one nominee of AIDQUA.