What minimum fraction of the directors can require a proposed circular resolution to be decided at a board meeting under section 175(1) of the Companies Act, 2013?
Question and options
What minimum fraction of the directors can require a proposed circular resolution to be decided at a board meeting under section 175(1) of the Companies Act, 2013?
Three-quarters
One-third
All directors
Two-thirds
Answer and explanation
The proviso to section 175(1) of the Companies Act, 2013 requires the chairperson to put a proposed circular resolution to a board meeting if not less than one-third of the total number of directors for the time being require it. Otherwise a circular resolution passes when approved by a majority of the directors entitled to vote.
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