(Querist) 29 April 2008
This query is : Resolved
Dear All, It is observed that though Companies Act remain silent regarding the statutory applicability of board meeting through Vidio Conferencing, yet IT Act affirms regarding the issue. Kindly advice me if I arrange to convene the BM though VC would it be legally valid? what would be the provisions for quorum? signing of minutes? can a director who is on the vc be appointed as the Chairman of the meeting? what will be the situation if the link fails, will the meeting be considered as adjourned?
(Expert) 29 April 2008
No, Companies act not allowed holding of Board meeting by way of Video conferencing even though IT act recognised meeting with video conferencing, as you aware General Act not override the Provisions Specific Act. However you can pass circular resolution without holding board meeting except some specific matters.
Further regarding quorum it is same as applicable in section 287 of CA 1956.
(Expert) 30 April 2008
I differ from dhrumil. A meeting by VC is perfectly valid. Company Act does not prohibit it.
(Querist) 09 May 2008
Mr Rajesh Kumar kindly tell me which section of the Companies Act affirms convenning the Board Meeting through VC. Unless and untill I find a specified section of the concerned Act in support of our view how can I persuade the Board to proceed ? Are there any recent past instances where we find a company (Indian) to convene BM through VC if so kindly send their names. Regards, Asish