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of <h1>Directors barred from voting on contracts they have interest in under Section 300 of Companies Act, 1956.</h1> Section 300 of the Companies Act, 1956, prohibits a director from participating in discussions or voting on contracts or arrangements in which they have an interest, directly or indirectly. Their presence does not count towards a quorum, and any vote cast is void. Exceptions include certain private companies, indemnity contracts, and specific scenarios involving public companies, as detailed in the section. The Central Government may exempt certain companies if deemed in the public interest. Directors who knowingly violate this provision face a fine up to fifty thousand rupees.
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