BM was called for an urgent matter required to be deliberated what are the requirements for such a B...........

Companies Act-Phase (I & II) Board-powersandMeetings

BM was called for an urgent matter required to be deliberated, what are the requirements for such a BM:

An Independent Director (if any) shall be the Chairman of such a meeting

An Independent Director (if any) shall be present at such meeting OR atleast ratify the decisions made thereat through circulation

If the Company has Independent Directors , only they can vote on such urgent matters

Notice calling such a BM shall be signed by Independent Directors only

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Explanation:

To transact urgent business, the Notice, Agenda and Notes on Agenda may be given at shorter period of time than stated above, if at least one Independent Director, if any, shall be present at such Meeting. If no Independent Director is present, decisions taken at such a Meeting shall be circulated to all the Directors and shall be final only on ratification thereof by at least one Independent Director, if any. In case the company does not have an Independent Director, the decisions shall be final only on ratification thereof by a majority of the Directors of the company, unless such decisions were approved at the Meeting itself by a majority of Directors of the company.