Interested director not to participate or vote in Board's proceedings.

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....o, by or on behalf of the company, if he is in any way, whether directly or indirectly, concerned or interested in the contract or arrangement; nor shall his presence count for the purpose of forming a quorum at the time of any such discussion or vote; and if he does vote, his vote shall be void. (2) Sub-section (1) shall not apply to___ (a) a private company which is neither a subsidiary nor a....

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....ntment as a director thereof, he having been nominated as such director by the company referred to in sub-section (1), or (ii) in his being a member holding not more than two per cent of its paid-up share capital;] (e) a public company, or a private company which is a subsidiary of a public company, in respect of which a notification is issued under sub-section (3), to the extent specified in ....