investment committee quorum
monarch
(Querist) 29 June 2010
This query is : Resolved
Kindly guide me whether there is any statutory provision for investment committee quorum under any law in India.
Incase if there is any provision as such & also if the A.O.A of the company provides for the quorum then in such a case what shall prevail.
Heaven 2011
(Expert) 01 July 2010
I presume that your company is a listed company because this committee meeting generally held in the Listed companies. Now So far as the Companies Act and the Listing agreement is concerned there are no such provisions which mandates the existance of the investment committee. It is entirely upto the discretion of the Board to constitute an investment committee. Further if you look towards the AOA of the company concerned, it will only follow the provisions of the Companies Act. So far it does not override the provision of the Companies Act it can be followed. Better you go thru AOA.
