As per Companies Act 2013, for the Shareholders meeting of a Wholly owned Subsidiary Company, for a Quorum do we need to have the Physical Presence of All the Shareholders or the Proxies would suffice the purpose???
Would appreciate if suggested with relevant sections.
18 June 2014
As per section 103(1) quorum will be as follows: (a) in case of a public company,— (i) five members personally present if the number of members as on the date of meeting is not more than one thousand; (ii) fifteen members personally present if the number of members as on the date of meeting is more than one thousand but up to five thousand; (iii) thirty members personally present if the number of members as on the date of the meeting exceeds five thousand;
(b) in the case of a private company, two members personally present, shall be the quorum for a meeting of the company.
CAclubindia
