IBC 193 — Member not to participate in meetings in certain cases

Insolvency & Bankruptcy Code, 2016

Statutory text

Any member, who is a director of a company and who as such director has any direct or indirect pecuniary interest in any matter coming up for consideration at a  meeting of the  Board, shall, as soon  as possible  after relevant circumstances have come  to  his  knowledge,  disclose  the  nature  of  his  interest  at  such  meeting  and  such  disclosure  shall  be recorded in the proceedings  of the  Board, and the  member shall not take  any part in any deliberation or decision of the Board with respect to that matter.

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