Clause(2) of section 174 says:- "The continuing directors may act notwithstanding any vacancy in the Board; but, if and so long as their number is reduced below the quorum fixed by the Act for a meeting ofthe Board, the continuing directors or director may act for the purpose of increasing the number of directors to that fixed for the quorum, or of summoning a general meeting of the company and for no other purpose." Can someone explain this in simplified way?
Posted by on 19 Aug 2016
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