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HUF Attendance at AGM

CS Ekta (Company Secretary) (309 Points)

22 September 2009

Hi Friends,

Please tell me the procedure for the HUF attendance at AGM particularly in relation to situation given below.

A member of the company also holds shares as the karta of the HUF.

Regards

Ekta

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7 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 22 September 2009

Hi,

In the register of member of a company HUF is represented by the name of Karta. There is no such procedure. In your case such person has 2 votes. One as his individual membership and one as karta of HUF.

However the above answer is based on my personal understanding f law. Other views solicited.

Regards

CS Ekta (Company Secretary) (309 Points)
Replied 22 September 2009

Kindly confirm that in such case that person will submit two attendance slip: one signed as a individual and one as karta of HUF.

Now suppose, if that person wants to give attendance slip for his individual membership and for his membership as karta of HUF, he wants to appoint a proxy.

Can he do so, provided he is physically present there?

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(Guest)

In Every HUF of India, Karta has the sole power to do any thing for the benefit of the HUF. However, he can delegate his power to any person.

When the HUF purchases shares of any Company, Karta has the authority to Recive Dividend on behalf of HUF, and he is also entitled to Vote at any Meeting.

So, While Attending the AGM, the Karta signes the Attendance Sleep. He Gives only 1 Sleep in AGM. There is no need for 2 Sleep. Karta can appoint any person as the Proxy, too.

There is no compulsory requirement of Embossing the Symbol of HUF in Attendance Sleep. But If You will emboss the Symbol of HUF, it would be better.

CS Ekta (Company Secretary) (309 Points)
Replied 22 September 2009

I know that the Karta has the authority to sigh the slip.

I wanted to know that whether any person who is attending the AGM for his indivdual membership can appoint a proxy to attend the meeting in respect of his holding as karta of HUF?