https://www.taxtmi.com/caselaws?id=98741 Section 300 of the Companies Act, 1956 bars a director from participating where he is concerned or interested in the contract, and an interested vote is void and cannot be cured by acquiescence or ratification. A sole selling agency renewal may constitute an office or place of profit under section 314, so shareholder approval by special resolution may be required. Notices convening the meeting must disclose all material facts under section 173(2), including the director's interest and prior regulatory correspondence relevant to the proposed renewal. Proxy handling, revocations, and chairman's directions at the meeting must also comply with law; defects in those processes can undermine the validity of the poll and declared result. en-us Fri, 07 Nov 1969 00:00:00 +0530 Sat, 18 Nov 2017 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98741 Section 300 of the Companies Act, 1956 bars a director from participating where he is concerned or interested in the contract, and an interested vote is void and cannot be cured by acquiescence or ratification. A sole selling agency renewal may constitute an office or place of profit under section 314, so shareholder approval by special resolution may be required. Notices convening the meeting must disclose all material facts under section 173(2), including the director's interest and prior regulatory correspondence relevant to the proposed renewal. Proxy handling, revocations, and chairman's directions at the meeting must also comply with law; defects in those processes can undermine the validity of the poll and declared result. Case-Laws Companies Law Fri, 07 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98741