RP ARE REQUIRED TO GIVE NOTICE OF MEETING TO SUSPENDED BOARD ALSO BUT IF AGGRIGATE DUES ARE MORE THAN 10% THEN THEY CAN'T ATTEND MEETING AS WELL AS NOT LIABLE TO RECEIVE NOTICE......RIGHT????
As per provisions, the RP is not only required to give notice of the meeting to the members of CoC, but also to the members of suspended Board of directors or partners of the corporate person, as the case may be. The OCs or their representatives are also to be informed to attend the meeting of CoC, if the amount of the aggregate dues is not less than ten percent of the debt. Hence, the limit of 10% aggregate dues is only applicable on OC or their representatives.
by Shubhamm Sir
at 23-Apr-2023 02:35 AM